• Major US stock indices fell mainly on the results of the session

Market news

6 December 2017

Major US stock indices fell mainly on the results of the session

Major US stock indexes finished trading mostly in the red, as the decline in quotations of the raw materials sector and shares of Merck & Co., Inc. (MRK) compensated for the growth of the technological sector.

The focus was also on the USA data. The report from Automatic Data Processing (ADP) showed that: growth rates of employment in the private sector of the US slowed in November, but were stronger than forecast. According to the report, in November, the number of employed increased by 190 thousand people compared to the figure for October at 235 thousand. Analysts had expected that the number of employed will increase by 185 thousand.

Meanwhile, the Labor Ministry said labor productivity in the US rose in the third quarter, while labor costs fell, another sign of lower inflationary pressures, despite a solid economy. Labor productivity grew by 3% year-on-year in the third quarter, this is the biggest increase in three years. This estimate, the second from the Ministry of Labor, confirmed the preliminary data on the productivity jump released last month. Costs decreased by 0.2% per annum in the third quarter; Previously, the Ministry estimated that costs increased by 0.5%. Economists had expected a jump in productivity of 3.3% per annum, and 0.2% of the annual increase in costs per unit of labor.

Most components of the DOW index recorded a decline (20 out of 30). Outsider were the shares of Merck & Co., Inc. (MRK, -2.60%). The leader of growth was shares of Microsoft Corporation (MSFT, + 1.33%).

Most sectors of the S & P index finished trading in the red. The greatest decrease was shown by the sector of raw materials (-1.2%). The technological sector grew most (+ 0.4%).

At closing:

DJIA-0.16% 24.140.98 -39.66

Nasdaq + 0.21% 6,776.38 +14.16

S & P -0.01% 2,629.27 -0.30

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