• Major US stock indexes completed the session in different directions

Market news

10 May 2017

Major US stock indexes completed the session in different directions

Major US stock indexes finished trading without a single dynamic, as investors evaluated the batch of weak corporate reports and the step of US President Donald Trump to dismiss the head of the FBI.

The president said that he fired Komi, who led the investigation into the possible collusion of representatives of his presidential campaign with Russia in 2016, for a bad investigation of the scandal with the publication of the electronic correspondence of US presidential candidate Hillary Clinton.

In addition, the Ministry of Labor reported that import prices in the US rose more than expected in April, due to rising prices for petroleum products and a number of other goods, which could contribute to the growth of domestic inflation. Import prices jumped 0.5 percent after a revised increase of 0.1 percent in March (originally reported a fall of 0.2 percent). Economists predicted that import prices will rise by 0.2 percent. During the 12 months to April, import prices increased by 4.1 percent, slowing from 4.3 percent in March. Export prices rose 0.2 percent after an increase of 0.1 percent in March. In annual terms, export prices increased by 3.0 percent after an increase of 3.4 percent in March.

The cost of oil futures jumped about 3.2% after Iraq and Algeria joined Saudi Arabia, supporting the extension of the oil production agreement. Additional support for prices was provided by data from the US Energy Ministry, indicating a sharp drop in oil reserves over the past week.

Components of the DOW index finished trading mixed (15 in positive territory, 15 in negative territory). More shares fell The Walt Disney Company (DIS, -2.43%). The leader of growth was shares of Chevron Corporation (CVX, + 1.40%).

Most sectors of the S & P index showed an increase. The leader of growth was the sector of basic materials (+ 1.2%). The sector of industrial goods fell most of all (-0.3%).

At closing:

DJIA -0.16% 20.941.96 -33.82

Nasdaq + 0.14% 6.129.14 + 8.55

S & P + 0.11% 2,399.48 + 2.56

Market Focus
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