• The main US stock indexes completed the session in a negative territory

Market news

3 April 2017

The main US stock indexes completed the session in a negative territory

Major US stock indices showed a decline after New York and other states accused the Trump administration of illegally blocking energy efficiency standards, casting doubt on the ability of the new government to promote the planned reforms.

In addition, as it became known that the conditions for doing business in the US industrial sector continued to improve in March, but the last figure was the lowest for 6 months. The loss of momentum reflected a weaker growth in production and new orders, as well as a slow increase in jobs. Producers sought to adjust their inventory strategies in response to restrained sales growth, while inventories of finished products declined for the first time in six months. In March, the final PMI index fell to 53.3 from 54.2 in February. The last reading was the lowest since September 2016.

However, the report published by the Institute for Supply Management (ISM) showed that in March, activity in the US manufacturing sector worsened, but less than the average forecasts of experts. The PMI index for the manufacturing sector was 57.2 points against 57.7 points in February. Analysts had expected that this figure would drop to 57.0 points. In addition, more detailed information showed: the price index in March rose to 70.5 from 68.0 in February, the employment index improved to 58.9 from 54.2, the index of new orders fell to 64.5 from 65.1, the index Production fell to 57.6 from 62.9, and the stock index fell to 49.0 from 51.5 in February.

The components of the DOW index mostly decreased (20 out of 30). The shares of E.I. du Pont de Nemours and Company fell more than others (DD, -0.71%). The leader of growth was UnitedHealth Group Incorporated (UNH, + 1.09%).

All sectors of the S & P index finished trading in the red. The conglomerate sector fell most of all (-0.6%).

At closing:

DJIA -0.06% 20.651.00 -12.22

Nasdaq -0.29% 5,894.68 -17.06

S & P -0.16% 2,358.87 -3.85

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