• Major US stock indexes rose on the basis of the trading session

Market news

10 January 2019

Major US stock indexes rose on the basis of the trading session

On Thursday, US stock markets rose moderately, helped by an increase in the quotations of the industrial goods sector and the utilities sector, as well as statements by Fed Chairman Powell.

Powell said the Fed has the ability to be patient with monetary policy, given the stable price measures. He also downplayed the forecasts of politicians who assume that interest rates will be raised two more times this year.

"Especially when inflation is low and under control, we have the opportunity to be patient and patiently and carefully observe, as we ... find out which of these two narratives will become the story of 2019," said Powell about the good impulse in economic data. and, on the other hand, concerns about financial risk markets.

“There is no plan,” Powell added, when he was asked about the December forecasts by Fed politicians, showing that they expect an average of two more rate increases in 2019 after four last year. "This was due to a very strong forecast for 2019, which can still materialize," he added.

However, retailer stocks were under pressure after Macy's (M) retailer reported weak sales during the holiday period in 2018 and lowered its earnings forecast for the year to $ 3.95-4.00 per share from the previously projected $ 4.10 -4.30. According to Refinitiv, the average forecast of analysts assumed $ 4.23. The value of M shares on the premarket has fallen by more than 18%. Frustrating data also came from Kohl's (KSS) and Target Corp (TGT).

Most of the components of DOW recorded an increase (20 of 30). The growth leader was the shares of The Boeing Company (BA, + 2.55%). Pfizer Inc. shares turned out to be an outsider. (PFE, -2.38%).

Almost all sectors of the S & P finished trading in positive territory. The largest growth was shown by the industrial goods sector (+ 1.4%), only the conglomerate sector decreased (-0.2%)

At the time of closing:

Dow 24,001.92 +122.80 +0.51%

S & P 500 2,596.64 +11.68 +0.45%

Nasdaq 100 6,986.07 +28.99 +0.42%

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