• The main US stock indexes finished trading on the positive territory

Market news

11 January 2018

The main US stock indexes finished trading on the positive territory

On Thursday, US stock markets rose markedly, renewing record highs, helped by the appreciation of shares in the energy sector and an optimistic forecast from US air carrier No 2 in Delta Air Lines.

Oil prices earlier rose to the highest level since early December 2014, supported by tightening world oil reserves, and OPEC members' statement that they will adhere to the terms of the deal to reduce production, despite the increase in Brent quotations to almost $ 70 per barrel. The UAE oil minister and current OPEC president Suhail Al-Mazrui said he expects the market to balance in 2018 and that the group of producers will be committed to a pact to reduce the supply by the end of this year.

Market participants also drew attention to the US data. As it became known, the number of Americans applying for new unemployment benefits rose last week, but remains low, which indicates a strong labor market, which is likely to continue to tighten in 2018. Initial applications for unemployment benefits, a gauge of layoffs across the United States, increased by 11,000 to 261,000, seasonally adjusted for the week ending January 6, the Ministry of Labor said. This was the fourth week of growth of applications. Economists had expected 245,000 new applications last week.

Most components of the DOW index recorded a rise (24 out of 30). The leader of growth was shares of Chevron Corporation (CVX, + 2.98%). Outsider were shares of American Express Company (INTC, -0.59%).

All sectors of the S & P index finished trading in positive territory. The commodities sector grew most (+ 1.7%).

At closing:

DJIA + 0.81% 25.574.73 +205.60

Nasdaq + 0.81% 7.211.78 +58.20

S & P + 0.70% 2.767.56 +19.33

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