• Major US stock indexes finished trading in the red

Market news

17 April 2019

Major US stock indexes finished trading in the red

Major US stock indices fell slightly, as the continuing decline in health care stocks offset the exceeding expectations from economic data from China and the predominantly positive reporting by companies.

As it became known, China's GDP in the first quarter grew by 6.4% year on year, helped by growth in industrial production and retail sales in March. Economists had expected a weaker growth - by 6.3%. Strong Chinese economic indicators weakened concerns that the global economy is slowing.

The focus of market participants was also the report of the Ministry of Commerce, which showed that the US trade deficit in February fell to an eight-month low. According to the report, the trade deficit fell by 3.4% to $ 49.4 billion - the lowest level since June 2018. The trade deficit in January remained unchanged at $ 51.1 billion. Economists had forecast that the trade deficit would increase to $ 53.5 billion in February.

Another report by the Ministry of Commerce indicated that wholesale inventories rose less-than-expected in February. According to the report, wholesale inventories rose by 0.2% in February after increasing by 1.2% in January. Economists had expected stocks to grow by 0.5%.

Most of the components of DOW recorded an increase (19 of 30). The growth leader was Intel Corp. (INTC; + 3.24%). The outsider was Merck & Co., Inc. (MRK, -4.85%).

Sector S & P ended the bidding in different directions. The consumer goods sector grew the most (+ 0.6%). The largest decline was shown by the health sector (-2.9%).

At the time of closing:

Dow 26,449.54 -3.12 -0.01%

S & P 500 2,900.45  -6.61 -0.23%

Nasdaq 100 7,996.08 -4.14 -0.05%

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