• Major US stock indexes finished trading in the red

Market news

4 October 2018

Major US stock indexes finished trading in the red

Major US stock indexes have declined significantly, as the growth in US government bond yields to multi-year highs amid steady economic data and optimistic comments by the head of the Fed has raised concerns about accelerating inflation.

Some attention was also attracted by data on the United States. The Department of Labor said that the number of Americans applying for unemployment benefits fell to a 49-year low last week, indicating a steady strength in the labor market, which should continue to support economic growth. Primary claims for state unemployment benefits fell by 8,000 to 207,000, taking into account seasonal fluctuations for the week ending Sept. 29. The data for the previous week was revised to show 1,000 more applications received than previously reported. Economists had forecast that in the last week, bids would fall to 213,000. The four-week moving average of initial hits rose by 500 to 207,000 last week.

Meanwhile, a report from the Department of Commerce showed that orders for US manufactured goods rose by 2.3% in August to $ 510.47 billion. Economists had expected an increase of 2.1% in August compared with the previous month. Orders for freight traffic, apparently, led to an increase in profits in August with an impressive increase of 13.1% compared with the previous month. It was the biggest gain in more than a year.

Most of the components of DOW finished trading in the red (24 of 30). Outsiders were NIKE, Inc. shares. (NKE, -2.81%). The growth leader was Verizon Communications Inc. (VZ, + 1.34%).

All sectors of the S & P recorded a decline. The largest decline was shown by the technology sector (-1.7%)

At the time of closing:

Dow 26,627.48 -200.91 -0.75%

S & P 500 2,901.61 -23.90 -0.82%

Nasdaq 100 7,879.51 -145.57 -1.81%

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.