• The main US stock indexes finished trading with a rise

Market news

24 November 2017

The main US stock indexes finished trading with a rise

The main US stock indices grew moderately on Friday, with the Nasdaq and S & P 500 reaching record highs, helped by higher commodity prices, as well as by the fact that retailers' stocks began to strengthen signs of a strong start to the holiday season.

Certain pressure on the course of trading was provided by preliminary data from Markit Economics, which showed that business activity in the US private sector continued to expand in November, but the growth rate slowed somewhat. Composite index PMI, which estimates the change in activity in the production and services sectors, fell in November to 54.6 points from 55.2 points in October. As a result, the last reading indicated the slowest expansion of private sector activity since July. However, despite the slowdown, the study pointed to a steady, and stronger, increase in new orders in November.

Quotes of WTI crude oil jumped by more than 1.5%, reaching the highest level in more than two years, as the supply of oil to storage facilities continued to decline due to the shutdown of the Keystone pipeline in North America. Meanwhile, the price of Brent crude rose by about 0.5%. Due to the oil spill on November 16, deliveries through the Keystone pipeline, linking Alberta's oil sands with US refineries and normally pumping 590,000 barrels per day to the US refinery, declined, and the reserves in the Cushing's store, Oklahoma, fell.

Most components of the DOW index finished trading in positive territory (21 out of 30). Leader of growth were shares of Visa Inc. (V, + 1.04%). Outsider were shares of Caterpillar Inc. (CAT, -0.45%).

All sectors of S & P recorded a rise. The technological sector grew most (+ 0.6%).

At closing:

Dow + 0.14% 23.557.99 +31.81

Nasdaq + 0.32% 6,889.16 +21.80

S & P + 0.21% 2,602.42 +5.34

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