• The main US stock indexes finished trading in negative territory

Market news

25 October 2017

The main US stock indexes finished trading in negative territory

Major US stock indices moderately declined on Wednesday after the last quarterly reports of companies, including AT & T and Boeing, did not impress investors.

According to the published report, AT & T (T)'s profit for the third quarter of 2017 fiscal year (FY) reached $ 0.74 per share (versus $ 0.74 in the third quarter of 2016 FY), which was below the average forecast of analysts at $ 0.75. Quarterly revenue of the company was 39.668 billion (-3.0% y / y), while the average forecast of analysts was $ 40.335 billion.

Meanwhile, the profit of Boeing (BA) for the third quarter of 2017 FY reached $ 2.72 per share (versus $ 3.51 in the third quarter of 2016 FY), which was above the average forecast of analysts at $ 2.66. Quarterly revenue of the company was $ 24.309 billion (+ 1.7% y / y), while the average forecast of analysts was $ 24.090 billion.

In addition, as it became known, orders for durable goods grew by 2.2% in September, ahead of growth forecasts of 1.1%. With the exception of transport, orders increased by 0.7%. Investments in the business grew by 1.3% for the third month in a row, based on a closely related measure known as basic orders for capital goods. Last year, these orders grew by 7.8%.

The sales of newly built houses grew at the highest rates during the decade in September, as reliable demand supported the builders. Sales of new buildings rose to 667,000 per annum, the Ministry of Commerce reported. This is 18.9% more than in August, and 17% more than a year ago. Economists predicted 555,000 annual rates. According to the government, sales were restored after the August hurricanes. They were strong in every region, including in the south, which was destroyed by hurricanes.

Most components of the DOW index finished trading in the red (23 of 30). Leader of the growth were shares of NIKE, Inc. (NKE, + 2.78%). Outsider were shares of The Boeing Company (BA, -3.32%).

All sectors of the S & P index recorded a decline. The largest decline was shown by the sector of conglomerates (-1.8%).

At closing:

DJIA -0.48% 23,329.46 -112.30

Nasdaq -0.52% 6,563.89 -34.54

S & P -0.47% 2.557.15 -11.98

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