Stock market: weekly review [E]

Wall Street ended the week due to FOMC pessimism. Despite rate gain to 5.25%, investors activated purchases of American shares concerns expectations of coming end of rate increase strengthened in the USA. According to Federal Reserve statement the paces of economic growth in the country stable and inflation expectations restrained. Nevertheless, statement doesnt speak about the necessity of further interbank credit increase.
Stock market rally on Thursday was effective: Dow showed most daily growth since April 2005, and S&P 500 тАУ since September 2003. As a result of week S&P 500 and Nasdaq boosted at 2.3%, and Dow - 1.7%. However, quarter appeared unsuccessful for Nasdaq Composite and Russell 2000: indexes fell 7.2% and 6.5% accordingly. S&P 500 was better, but still has losses in 1.75. Dow was the only index which on results of last months remained above zero benchmark +0.6%. From the beginning of year Russel 2000 strengthened 6.2% while Dow - 4.3%, S&P 500 rose at 1.9% and Nasdaq was outsider and lost 1.6%.
Despite general growth on Wall Street, medical equipment manufacturers showed the highest gain. Boston Scientific shares declined at 7.6% after company has withdrawn about 23,000 heart electronic stimulators and defibrillators because of electronics defects. Investigation of regulative bodies led to stocks drop such as Biomet (-9.9%), Zimmer Holdings (-9%) and Stryker (-5.5%), which confirmed suits to the court from Ministry of Justice concerning antimonopoly legislation.
Micron Technology stocks at 8.6%, in spite of profit growth in Q3. At the same time analysts was disappeared by companiesтАЩ earnings volumes.
J Crew issued initial shares on Wednesday. Start price was $20. At the first day of trades rate of beginners stocks climbed at 27.8% and ended the week with indicator +35.8%.
Companies of raw sector showed significant growth. Oil prices reached 8-week high, and supported American Stock Exchange Oil Index (+6.7%). ExxonMobil shares strengthened at 6.8%, the best weekly growth since February 2005. Hess Corporation stocks rose at 14.8%.
Intel stocks gained at 5.7% on background of positive news. On Monday company represented a new microprocessor for computer servers, and in the end of week declared intention to sell Marvell Technology, division of devices production for manual devices of Marvell Technology.
General Motors (+7%) autogiant didnt leave headlines of mass-media. Companies shares on Thursday fell after GM declared sales volumes in 2006 wont justify forecasts. However, on Friday stocks were in demand due to announcement that investor-billioner Renault and Nissan were interested in purchase of companys shares.