• Major US stock indexes finished trading below zero

Market news

29 September 2016

Major US stock indexes finished trading below zero

Major stock indexes in Wall Street closed in the red, breaking a two-day increase. Pressure drop in the index was the capitalization of Apple (AAPL) due to the lowering of the target value of shares Barclays experts.

In addition, it became known today, the number of Americans who applied for unemployment benefits rose less than expected last week and remained at relatively healthy levels, which could support the Federal Reserve, which plans to raise interest rates this year. Primary applications for state unemployment benefits rose by 3,000, reaching 254,000 for the week ended September 24th. Economists had expected the figure will be 260,000.

In addition, the number of signed contracts to purchase homes in the US secondary market fell in August to its lowest level since January, a warning sign for the economy at the time, as the industry is trying to increase the supply. The National Association of Realtors said its index of sales expectations houses, calculated on the basis of contracts concluded in the last month decreased by 2.4% to 108.5 in July after the jump. Index was 0.2% lower than in August 2015.

However, oil futures rose by about 1%, continuing the rally the previous session, which was caused by the news of an agreement by OPEC to curb oil production. Recall participants OPEC meeting in Algeria declared the achievement of mutual understanding, but work on the production of detail reduction plan, they have postponed until November. Production will be limited to the level of 32.50 mln. Barrels per day compared to the current 33.24 million. Barrels of oil per day.

Almost all the components of DOW index finished trading in negative territory (27 of 30). Outsider were shares of The Goldman Sachs Group, Inc. (GS, -2.78%). Most remaining shares rose Caterpillar Inc. (CAT, + 1.22%).

Most of the S & P sectors showed a decline. the health sector fell the most (-2.0%). Grown only sector conglomerates (+ 0.3%) and basic materials sector (+ 0.3%).

At the close:

Dow -1.06% 18,144.48 -194.76

Nasdaq -0.93% 5,269.15 -49.40

S & P -0.93% 2,151.11 -20.26

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.