Major US stock indexes finished trading with a weak increase, as significant losses of the conglomerate sector were offset by the growth of other sectors. Investors also were in anticipation of the Fed meeting and analyzed ambiguous corporate reports.
Market participants predict that the Fed will leave interest rates unchanged, and retain the wording of previous statements about a "gradual rate hike," despite a sharp slowdown in the economy. According to the futures market, now the probability of an increase in the rate of the Fed at the meeting in May is 4.8%.
Meanwhile, given that more than two thirds of S & P500 companies have already submitted quarterly results, firms are likely to report the largest increase in earnings per share since the first quarter of 2011. However, some investors consider the shares in the US expensive compared to historical average estimates, and do not rule out a rollback.
Quotes of oil significantly decreased, as positive news about the decline in oil production by Russia and the major exporters of OPEC were offset by signs of increased oil production in the US, Canada and Libya. The National Oil Company of Libya said yesterday that oil production in the country rose above 760,000 barrels per day, reaching the highest level since December 2014. In addition, the company added that they plan to continue to increase oil production.
Most components of the DOW index recorded a rise (19 out of 30). The leader of growth was shares of Intel Corporation (INTC, + 1.94%). More shares fell The Procter & Gamble Company (PG, -1.06%).
Most sectors of the S & P index finished trading in positive territory. The leader of growth was the healthcare sector (+ 0.3%). The conglomerate sector fell most of all (-1.5%).
At closing:
DJIA + 0.17% 20,949.28 +35.82
Nasdaq + 0.06% 6,095.37 +3.77
S & P + 0.12% 2.391.11 + 2.78