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

Market news

27 September 2018

The main US stock indexes finished trading on the positive territory

Major US stock indexes finished trading in positive territory, helped by the rise in price of Apple and Amazon shares, as well as the Fed's confidence in the strength of the economy, as this year it raised rates for the third time.

The focus of investors' attention was also data on US GDP. The Commerce Department reported that the gross domestic product, representing a wide range of goods and services produced in the US, grew by 4.2% in the second quarter, seasonally adjusted and adjusted for inflation in the second quarter. This was in line with the agency's August estimate. Overall, the report reinforced the view that the US economy is on a sustainable basis in the second quarter, driven by rising consumer spending, net exports and investment in business. The data also showed that consumer spending, accounting for more than two thirds of the US output, rose 3.8% year-on-year, not confirming the previous estimate. Investments in the business were slightly stronger than previously thought, while fixed non-residential investment increased by 8.7% per annum, compared with the previously reported growth of 8.5%. World trade added 1.22% to GDP growth rates for the quarter, compared with an earlier estimate of 1.17%. Export was revised upward, and imports revised down. Meanwhile, some areas in the economy showed weakness in the second quarter. Housing investment fell by 1.3% year-on-year, while private inventories were revised downward, subtracting 1.17 percentage points from growth in the second quarter.

Most DOW components recorded a rise (17 out of 30). The leader of growth was the shares of Apple Inc. (AAPL, + 2.06%). Outsider shares were DowDuPont Inc. (DWDP, -2.16%).

Almost all sectors of S & P completed the auction in positive territory. The utilities sector grew most (+ 0.7%). Only the financial sector declined (-0.1%).

At closing:

Dow 26,439.93 +54.65 +0.21%

S & P 500 2,914.00 +8.03 +0.28%

Nasdaq 100 8,041.97 +51.60 +0.65%

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