• Major US stock indexes finished trading in negative territory

Market news

9 October 2017

Major US stock indexes finished trading in negative territory

Major US stock indices fell slightly on Monday amid losses in the healthcare sector and the conglomerate sector, as well as expectations for the third quarter's report season.

The unofficial start of the season of US companies' reports will occur this week with the publication of financial results of several major financial institutions: on Thursday, October 12, reports will be submitted by Citigroup (C) and JPMorgan Chase (JPM), on Friday, October 13 - Bank of America (BAC) and Wells Fargo (WFC).

According to Thomson Reuters, the profits of companies in the S & P 500 index basket are expected to show an increase of 4.2% compared to the same period last year, after exceeding expectations of growth of 12.3% y / y in the second quarter.

Oil prices rose slightly, backed up by OPEC comments, which signaled the possibility of further actions to restore the market balance in the long term. Meanwhile, the oil platforms in the Gulf of Mexico began to return to work after the hurricane Nate forced to stop more than 90% of the oil production in the area. In general, the prospect of resuming production limited the growth of oil quotes.

Most components of the DOW index recorded a rise (16 out of 30). Wal-Mart Stores, Inc. became the leader of growth. (WMT, + 1.85%). Outsider were shares of General Electric Company (GE, -4.35%).

Almost all sectors of the S & P index finished trading in the red. The health sector showed the greatest decline (-0.8%). Only the utilities sector grew (+ 0.1%).

At closing:

DJIA -0.06% 22.760.00 -13.67

Nasdaq -0.16% 6,579.73 -10.45

S & P-0.18% 2.544.62 -4.71

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.