The major US stock indexes finished trading in different directions, responding to a new portion of corporate reporting and the collapse of oil quotations.
In the focus of investors' attention were shares of companies such as IBM (IBM), Yahoo! (YHOO), Morgan Stanley (MS), which published their quarterly reports.
The cost of oil decreased by almost 4%, which was due to the growth of the US dollar and an ambiguous report from the US Energy Ministry, which pointed to less than expected reduction in oil reserves, along with an unexpected increase in gasoline stocks. The US Energy Ministry reported that in the week of April 8-14, oil reserves fell by 1 million barrels to 532.3 million barrels. Analysts had expected a drop of 1.5 million barrels. Gasoline stocks increased by 1.5 million barrels to 237.7 million barrels. A decrease of 2 million barrels was expected. Distillate stocks fell by 2 million barrels to 148.3 million barrels. The utilization factor of oil refining capacity increased by 1.9%, to 92.9%. Meanwhile, oil production increased to 9.252 million barrels per day from 9.235 million barrels a day a week earlier.
A small influence on the course of trading was provided by the Fed's Beige Book. The report noted that economic activity grew in all 12 districts, while the growth rate varied from modest to moderate. Also in the Beige Book, it was reported that improving the labor market conditions in the US exerts upward pressure on wages, as companies are increasingly reporting difficulties in To find low-skilled employees. Meanwhile, companies expect that the price increase in the next few months will be from small to moderate
Most components of the DOW index recorded a decline (23 out of 30). The shares of International Business Machines Corporation (IBM, -5.19%) fell more than others. The leader of growth was shares of Intel Corporation (INTC, + 0.48%).
The S & P indexes closed mostly in negative territory. Most of all, the main materials sector fell (-1.6%). The leader of growth was the healthcare sector (+ 0.2%).
At closing:
DJIA -0.59% 20,402.57 -120.71
Nasdaq + 0.23% 5,863.03 +13.56
S & P -0.18% 2,337.97 -4.22