• The major US stock indexes finished trading in positive territory

Market news

6 August 2018

The major US stock indexes finished trading in positive territory

The main US stock indices rose slightly thanks to the strong results of Berkshire Hathaway Inc (BRK.B, BRK.A) and Tyson Foods (TSN), while Nasdaq rose thanks to the growth of Facebook (FB) and PepsiCo (PEP).

Investors continue to closely monitor the trade confrontation between the US and China and the emerging quarterly results of US companies, which have so far largely supported the stock market. On Friday, China announced its readiness to introduce import tariffs of 5% -25% on US goods worth about $ 60 billion if the United States meets its threats to impose a 25% duty on Chinese goods worth $ 200 billion. At the weekend, China's state media criticized the US position, calling it a blackmail, which will not be successful, as Beijing intends to resolutely defend national interests.

The cost of oil rose on Monday, responding to news about the unexpected drop in oil production in Saudi Arabia, as well as a report on the US, which indicated a slowdown in drilling. Saudi Arabia produced about 10.29 million barrels of oil per day in July, sources in OPEC said on Friday that about 200,000 barrels per day are lower compared to a month earlier. This happened, despite the promise of the Saudis and Russia in June to increase production since July.

Most of the components of DOW have finished trading in positive territory (22 out of 30). The leader of growth was the shares of The Walt Disney Company (DIS, + 1.60%). Outsider were the shares of International Business Machines Corporation (IBM, -1.19%).

Almost all sectors of S & P recorded a rise. The conglomerate sector grew most (+ 0.8%). Decrease showed only the consumer goods sector (-0.2%)

At closing:

Dow 25.502.18 +39.60 +0.16%

S&P 500 2,850.40 +10.05 +0.35%

Nasdaq 100 7,859.68 +47.66 +0.61%

Market Focus
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