Major US stock indexes registered a slight increase, as shares of financial sector companies went up against the backdrop of signs of strength in the labor market and an almost certain increase in interest rates.
Investors also awaited an important report on employment in the non-agricultural sector, which could strengthen the chances of raising rates during the meeting of the Federal Reserve System on March 14-15. According to the futures market, now the probability of an increase in the rate of the Fed at the March meeting is 90.8%.
In addition, as it became known, the number of Americans who applied for unemployment benefits last week recovered from the nearly 44-year low, but continued to point to a tightening of the labor market. Initial applications for unemployment benefits increased by 20,000 to 243,000, seasonally adjusted for the week ending March 4, the Ministry of Labor said. Appeals for the previous week were not revised and remained at the level of 223,000, which is the lowest level since March 1973.
A separate report showed that import and export prices in the US rose slightly more than expected in February. The report said that import prices rose 0.2% in February after climbing a revised upward 0.6% in January. Economists had expected that import prices would rise by 0.1% compared to the 0.4% increase originally reported for the previous month.
The components of the DOW index have mostly grown (22 out of 30). The leader of growth was the shares of Johnson & Johnson (JNJ, + 1.47%). Caterpillar Inc. shares fell more than others. (CAT, -1.84%).
The sectors of the S & P index finished the session in different directions. The conglomerate sector fell most of all (-1.4%). The leader of growth was the healthcare sector (+ 0.6%).
At closing:
DJIA +3.63 20859.36 + 0.02%
S & P 500 + 2.77 2365.75 + 0.12%
NASDAQ +1.26 5838.81 + 0.02%