The main US stock indexes have moderately decreased, having receded from record marks. Market dynamics continued to be affected by the Fed's optimistic view of the economy and news that changes in the Republican tax code will be put to the final vote in Congress before the end of the year.
In addition, as it became known, the initial applications for unemployment benefits in the US for the week to December 9 fell by 11,000 to 225,000. This is only slightly higher than the post-recession low. Economists predicted that the figure would be 239,000.
Meanwhile, the US Department of Commerce reported that retail sales for November, adjusted for seasonal fluctuations and holidays and trading days, but not price changes, amounted to $ 492.7 billion, which is 0.8% more than in October, and 5.5% higher than November 2016. Total sales for the period from September 2017 to November 2017 increased by 5.2% compared to the same period in 2016. The change from September to October was revised from 0.2% to 0.5%.
A separate report from the Ministry of Trade indicated that the volume of commercial inventories in the US declined in October on the back of strong sales growth, which indicates that investment in inventories is likely to make a major contribution to economic growth in the fourth quarter. Commodity inventories declined 0.1% in October after they did not change in September. The last change coincided with the forecasts. Retail stocks, except for cars that go into the calculation of GDP, increased by 0.4%. In September, they decreased by 0.1%.
Most components of the DOW index recorded a decline (22 out of 30). Outsider were shares of Caterpillar Inc. (CAT, -1.39%). The leader of growth was the shares of The Walt Disney Company (DIS, + 2.99%).
All sectors of the S & P index finished trading in the red. The health sector showed the greatest decline (-0.9%).
At closing:
DJIA -0.31% 24.510.11 -75.32
Nasdaq -0.28% 6,856.53 -19.27
S & P -0.40% 2,652.14 -10.71