• The major US stock indexes finished trading in different directions

Market news

5 June 2018

The major US stock indexes finished trading in different directions

Major US stock exchanges closed mixed: the Nasdaq index rose against the backdrop of a rise in price of technology companies, while the S & P500 and Dow closed the session almost unchanged, being under pressure from financial stocks.

Negligible impact on the course of trading was provided by the US. A report from IHS Markit showed that business activity in the US services sector increased sharply in May. Although the growth rate of new orders has slowed slightly, it has remained among the fastest in the last three years. The seasonally adjusted index of activity in the services sector rose to 56.8 in May, compared with 54.6 in April. The latest data signaled the fastest growth since April 2015.

Meanwhile, the index of business activity in the US services sector, calculated by the Institute for Supply Management (ISM), improved to 58.6 points in May from 56.8 in April. Analysts predicted that the figure will increase only to 57.5 points.

In addition, the Job Vacancy and Yield Survey (JOLTS), published by the US Bureau of Labor Statistics, showed that in April the number of vacancies increased to 6.698 million, updating a record high. Meanwhile, the indicator for March was revised upwards to 6.633 million from 6.55 million. Analysts had expected the number of vacancies to drop to 6,101 million. The vacancy rate was 4.3 percent, unchanged from March.

Most DOW components recorded a decline (18 of 30). Outsider were the shares of Merck & Co., Inc. (MRK, -0.98%). The leader of growth was the shares of DowDuPont Inc. (DWDP, + 1.32%).

S & P Sectors completed trades are mixed. The technological sector grew most (+ 0.4%), while the utilities sector showed the greatest decrease (-0.6%).

At closing:

Dow 24,799.98 -13.71 -0.06%

S&P 500 2,748.80 +1.93 +0.07%

Nasdaq 100 7,637.86 +31.40 +0.41%

Market Focus
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