• Major US stock indexes finished trading in negative territory

Market news

23 March 2017

Major US stock indexes finished trading in negative territory

Major US stock indexes finished the session with a slight decrease. Investors bought cheaper bank stocks, but remained cautious before voting on the health care bill, which is seen as the first political test of President Donald Trump.

As it became known today, last week the number of Americans who applied for unemployment benefits unexpectedly increased, but remained below the level associated with the strengthening of the labor market. Initial applications for unemployment benefits increased by 15,000 people and, taking into account seasonal fluctuations, reached 258,000 for the week ending March 18. The appeals for the previous week were revised, and showed 2,000 more applications received than previously reported. The four-week moving average of calls, which is considered to be the best indicator of labor market trends, increased by only 1,000 to 240,000.

However, the Ministry of Commerce said that sales of new single-family homes in the US rose to a seven-month high in February, indicating that the housing market recovery continued to gain momentum despite high prices and limited supplies. According to the data, sales of new buildings rose 6.1% to 592,000 units last month, the highest level since July 2016. The pace of sales in January was revised to 558,000 units from previously reported 555,000 units. Economists predicted that sales of new homes would grow by 0.7 percent to 565,000 units last month.

Most components of the DOW index recorded a decline (19 out of 30). More shares fell UnitedHealth Group Incorporated (UNH, -1.20%). Leader of the growth were shares of NIKE, Inc. (NKE, + 2.74%).

Most sectors of the S & P index finished trading in the red. The technological sector fell most of all (-0.4%). The leader of growth was the financial sector (+ 0.3%).

At closing:

Dow -0.02% 20.656.51 -4.79

Nasdaq -0.07% 5,817.69 -3.95

S & P -0.11% 2,345.96 -2.49

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