Market Overview

Late Market Update (DIS, FIATY.PK, HYMLF.PK, NSANY.PK, DAI, F, VLKAF.PK, HMC)

The dollar index moved up to 86.98 from 86.740, late Tuesday due to a weak yen. The yen fell against the US dollar and the euro due to the resignation of Japanese Prime Minister Yukio Hatoyama. The resignation of the prime minister within a year in office has undermined the safe-haven status of the yen.

ABC’s early advance advertising sales for the fall television season have met the early projections made by Walt Disney Co (NYSE: DIS). Disney Chief Executive Bob Iger mentions, "We thought it would be a good upfront...based on an improvement in the economy."

Most of the auto-makers have posted double-digit growth in the US May sales. The auto-makers include Chrysler (OTC: FIATY.PK), which was up by 33%, Hyundai (OTC: HYMLF.PK), which gained 33%, Nissan (OTC: NSANY.PK), which jumped 24.1%, Daimler (NYSE: DAI), which was up by 21.9% and Ford (NYSE: F), which jumped 21.9%. Volkswagen (OTC: VLKAF.PK), which was up 20.3%, and Honda (NYSE: HMC), which added 19.1% were also strong during the day. Automakers are getting benefits from a fragile but improving economy.

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