Business News & Financial News

Wall Street could fall this week in a market upturn phase, but will require a new set of quarterly results convincing to feed the stock market rally that started in U.S. last weekend.

The markets have been digesting macroeconomic statistics found disappointing and pessimistic comments from Federal Reserve Chairman Ben Bernanke on the U.S. economy, but the announcement of strong quarterly results by companies suggest a brighter future.

But this week, others are expected quarterly publications such as the oil company Chevron, DuPont chemist or the aircraft manufacturer Boeing.Good news would reassure investors.

Investors have had to readjust their forecasts for the economy with the latest statistics that portend a slowdown in the pace of recovery.

These data have also created divisions in the markets about the possibility of a new recession.If the concerns of a return to "W" began to fade among investors, publications positive would result in rising markets.

FIGURES OF THE GROWTH EXPECTED

"All indicators continue to signal growth, simply we are not moving as quickly as when we came out of the recession, which is totally logical," said Michael O'Rourke, chief market strategist at BTIG LLC, adding that the downward phase of the contract is completed.

He considers in particular that the beginning of July should be the low point of annual contracts.

Analysts hope to cheer the quarterly results this week after figures better than expected and forecast annual improvements announced last week by industry groups.

But the economy remains crucial. The series of publications macroeconomic expected this week will also be particularly monitored to determine the strength of the U.S. economic recovery.

The Fed should publish its Beige Book Wednesday on the economic conditions, while the figures for new home sales will launch the week Monday.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods.

But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter to be expected this week.

Manitou Tuesday reported a sharp rise in quarterly sales, but said the second half anticipate a slowdown in orders and a possible impact on delivery times its turnover.

The specialist said all terrain truck build for 2010 growth of 10% to 15% of its turnover, after announcing a 36% increase in sales in the second quarter to 225 million euros, 8.3% throughout the first half, to 387 million euros.

The backlog reached a record level of 5,400 machines at the end of June, said Manitou.

"We focus on our ability to issue orders in a fluid and operational chain still very tense," the group said in a statement.

Manitou has estimated that its order intake for the second quarter allowed him to secure part of his turnover for the second half, but the group expects a slowdown in the second half of the year.

"We continue to believe that these orders are from reports of investment in 2009, the natural cycles of replacement of machinery, and the traditional seasonal effect," the company said.

"However, we do not always signal a real recovery in volumes, either through rental building, expansion of agricultural markets or just a restocking distribution networks," Has added.

The action Manitou closed Tuesday up 1.30%, to 11.68 euros in a market capitalization of around 440 million euros.

The action marked rise in BP was Monday at the London Stock Exchange, the oil group has ensured that the containment dome set up the leaking wells in the Gulf of Mexico allowed to siphon off most of the oil 's them escape.

The UK has added a new capture system, to recover most of the dispersed oil would be ready in mid-JuneIt also revised upwards the cost of cleaning the oil spill, now the order of billions of dollars.

Action BP gained 2.7% to 445 pence at 11:18 AM.

BP said Sunday that the dome had helped siphon off the equivalent of 10,500 barrels Saturday, while the leak is estimated between 12,000 and 19,000 barrels per day.

"Finally we see some positive news for BP," said Peter Hitchens, oil analyst for Panmure Gordon.

Another analyst said that if BP is able to recover most of the oil in the coming month and a half, he will have less difficulty in avoiding a fall in the first quarter dividend.This decrease is claimed by some U.S. politicians.

The oil company also said that there was no change in its policy of exploration and production as a result of the spill.

"The exploration and production activity is a long term one must first make all investigations and draw all the lessons," said Clive Christison, one of the leaders of BP.

The U.S. stock markets opened Monday with no real direction, oscillating between higher and lower, the announcement of a rise in industrial orders in Germany in April was not enough to allay fears about the financial difficulties of Hungary.

Rising in the very first exchanges, the Dow Jones 0.14% yielded a few minutes later at 9917.84 points, the Standard & Poor's 500 index 0.14% to 1063.37 points and the Nasdaq Composite 0.27% to 2213.23 points.

In the wake of the Asian and European stock exchanges, markets always react negatively to the budget problems of Hungary after a government spokesman said Friday that the country was unlikely to escape a crisis comparable to that experienced by Greece.