• The main US stock indexes completed trading without a single dynamics

Market news

24 July 2017

The main US stock indexes completed trading without a single dynamics

Major US stock indexes ended the session in different directions, which was due to corporate news and expectations of the outcome of the Fed meeting.

The S & P 500 and Dow fell against the backdrop of Johnson & Johnson (JNJ) stock losses, and Nasdaq hit a record high before the publication of the Alphabet Inc earnings report.

In addition, data from IHS Markit indicated that in July there was further acceleration of business activity growth in the private sector of the United States. Taking into account the seasonal fluctuations, the preliminary composite PMI index rose to 54.2 in July, compared to 53.9 in June, and signaled the strongest expansion rate since January.

However, in June, home sales in the secondary market in the US fell more than expected, as the shortage of homes raised house prices to a record high. The National Association of Realtors said that home sales in the secondary market fell 1.8% to a seasonally adjusted annual rate of 5.52 million units last month.

Oil rose more than 1% after Saudi Arabia, the leading OPEC producer, pledged to reduce its exports to accelerate the rebalancing of global demand and supply. Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day in August, which is almost 1 million barrels per day lower than a year ago.

Most components of the DOW index recorded a decline (19 out of 30). Outsider were shares of General Electric Company (GE, -1.87%). Caterpillar Inc. was the growth leader. (CAT, + 1.46%).

Most sectors of the S & P index finished trading in the red. The utilities sector showed the greatest decrease (-0.7%). The financial sector grew most (+ 0.4%).

At closing:

DJIA -0.22% 21.532.01 -48.06

Nasdaq + 0.36% 6,410.81 +23.06

S & P -0.10% 2,470.09 -2.45

Market Focus
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