• Major US stock indexes finished trading below zero

Market news

23 October 2018

Major US stock indexes finished trading below zero

Major US stock indexes fell moderately, as disappointing forecasts from industrial giants Caterpillar and 3M triggered alarm calls about corporate growth and added to concerns about a slowdown in China and diplomatic isolation of Saudi Arabia.

The US data was also in focus. Production activity in the Fifth District expanded moderately in October, according to the results of the Federal Reserve Bank of Richmond millet. The composite index of business activity fell from 29 in September to 15 in October, as sub-indices of supply and new orders fell, and the employment component rose. However, respondents were optimistic, expecting to see a positive increase in most measures in the coming months.

Oil prices fell by more than 4% on Tuesday after Saudi Arabia stated that it could supply more crude if necessary, encouraging investors in anticipation of US sanctions on Iran's oil exports next month.

Most of the components of DOW recorded a decrease (19 of 30). Caterpillar Inc. shares turned out to be an outsider. (CAT, -7.48%). The growth leader was McDonald's Corporation (MCD, + 6.30%).

Almost all sectors of the S & P finished trading in the red. The largest decline was in the commodity sector (-2.2%). The consumer goods sector grew the most (+ 0.5%).

At the time of closing:

Dow 25,191.43 -125.98 -0.50%

S & P 500 2,740.69 -15.19 -0.55%

Nasdaq 100 7,437.54 -31.09 -0.42

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