• The main US stock indices fell on the results of today's trading

Market news

21 September 2017

The main US stock indices fell on the results of today's trading

Major US stock indices declined moderately on Thursday, weighed down by the fall of shares of the technological giant Apple and the Federal Reserve's hints about higher interest rates for the third time, despite low inflation.

In addition, as it became known, the number of Americans applying for unemployment benefits unexpectedly fell last week, but the data was still influenced by Hurricanes Harvey and Irma, who in the near future will distort the picture of the labor market. Initial applications for unemployment benefits fell by 23,000 to 259,000, seasonally adjusted for the week ending September 16, the Ministry of Labor said. Data for the previous week were revised, and showed 2000 fewer applications than previously reported.

At the same time, the report submitted by the Federal Reserve Bank of Philadelphia showed that the index of business activity in the production sector increased in September, reaching a level of 23.8 points compared to 18.9 points in August. Economists had expected the decline to 17.2 points

In addition, the Index of Leading Indicators (LEI) from the Conference Board in August increased by 0.4% to 128.8, after rising by 0.3% in July and by 0.6% in June. The index of coinciding indicators did not change in August, and amounted to 115.8, after an increase of 0.3 percent in July and 0.1 percent in June. The index of lagging indicators increased by 0.3 percent in August to 125.2 (2010 = 100), after an increase of 0.2 percent in July and 0.2 percent in June.

Most components of the DOW index finished trading in the red (19 out of 30). Outsider were the shares of The Procter & Gamble Company (PG, -1.91%). The leader of growth was shares of General Electric Company (GE, + 1.77%).

Almost all sectors of the S & P index recorded a decline. The largest drop was shown by the consumer goods sector (-0.8%). The industrial goods sector grew most (+ 0.4%).

At closing:

DJIA -0.24% 22,359.23 -53.36

Nasdaq -0.52% 6,422.69 -33.35

S & P -0.30% 2,500.60 -7.64

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.