• Major US stock indexes finished trading in different directions

Market news

26 October 2016

Major US stock indexes finished trading in different directions

Major US stock indexes mostly fell, being under the pressure of weak quarterly results of Apple. For example, shares the most valuable public company in the world (AAPL) lost about 2.3% after the company said that sales of its flagship iPhones fell the third consecutive quarter.

In addition, as it became known today, sales of new single-family homes in the US rose in September, pointing to a steady demand for housing, despite the fact that the data for August were revised sharply downwards. The Commerce Department reported Wednesday that new construction sales increased by 3.1% to a seasonally adjusted annual rate of up to 593,000 units last month, bringing them close to a nine-year high reached in July.

However, preliminary data provided by Markit Economics, showed that activity in the US service sector continued to expand in August, and reached its highest level since November 2015. Purchasing Managers Index (PMI) for the services sector in October was 54.8 points compared with 52.3 points in the previous month. Recall, reading above 50 indicates expansion of activity in the sector. Economists had expected the figure will be 52.3 points.

The focus of investors were also the shares of Coca-Cola (KO) and Boeing (BA). Both companies reported better than expected.

DOW index components showed mixed performance (14 red, 16 black). More rest up shares The Boeing Company (BA, + 4.96%). Outsiders were shares of Apple Inc. (AAPL, -2.34%).

Most of the S & P sectors closed in the red. The leader turned out to be the industrial goods sector (+ 0.6%). conglomerates (-1.0%) sectors fell most.

At the close:

Dow + 0.17% 18,199.47 +30.20

Nasdaq -0.63% 5,250.27 -33.13

S & P -0.17% 2,139.44 -3.72

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.