• Major US stock indices closed in the red zone

Market news

13 October 2016

Major US stock indices closed in the red zone

Major US stock indexes fell slightly today, as an unexpected drop in China's exports in September at 10% increased concerns about the deterioration in the global economy, while the Federal Reserve is considering a rate hike.

The focus is also report of the Ministry of Labor, which showed that the number of Americans filing applications for unemployment benefits remained near 43-year low last week, pointing to sustained strength of the labor market, which could pave the way for an increase in interest rates The Fed in December. According to the data, initial applications for state unemployment benefits have not changed and amounted to a seasonally adjusted 246,000 for the week ending on 8 October. This is the lowest since November 1973. Applications for the previous week were revised to show 3,000 fewer applications received than previously reported. It was the 84th week in a row, when the primary circulation remained below the threshold of 300 000, which is associated with robust labor market conditions. This is the longest period since 1970.

In addition, the report published by the Ministry of Labour found that import prices in the US have shown modest growth in the month of September. The report said that import prices rose by 0.1% in September after falling 0.2% in August. A slight increase in import prices reflects the jump in prices for fuel imports, which rose to 1.1% in September after added 2.4% in August.

Most DOW components of the index closed in negative territory (21 of 30). Most remaining shares rose Merck & Co., Inc. (MRK, + 1.68%). Outsider were shares of Chevron Corporation (CVX, -1.30%).

Almost all sectors of the S & P index showed a drop. The leader turned utilities sector (+ 1.1%). conglomerates (-0.8%) sectors fell most.

At the close:

Dow -0.25% 18,099.35 -44.85

Nasdaq -0.49% 5,213.33 -25.69

S & P -0.31% 2,132.58 -6.60

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.