Major Wall Street stock indexes finished trading slightly higher, as conglomerates sector share growth will compensate for the loss of energy stocks after the fall in oil prices.
As it became known today, the labor productivity in the US rose sharply in the third quarter as originally anticipated, noting the fastest growth rate in two years, but the trend at the same time remained weak. The Labor Department said Tuesday that the productivity of the workforce in the non-agricultural sector of the economy, which measures the hourly output per worker, increased by 3.1% unrevised. Increased graduated from a series of three consecutive quarters of decline. Productivity fell 0.2% in the second quarter and remained unchanged compared to the third quarter of 2015.
However, new orders for manufactured goods in the United States recorded their biggest increase in nearly 1.5 years in October, giving further evidence that the manufacturing sector is gradually recovering from a prolonged downturn. The Commerce Department reported Tuesday that new orders for manufactured goods rose by 2.7% after a revised towards strengthening by 0.6% in September. It was the biggest increase since June 2015 and pointed out four consecutive months of growth. Economists had forecast an increase of industrial orders by 2.6% in October after a previously reported gain of 0.3% in September. Unfilled orders at factories rose by 0.7%, the biggest increase since July 2014, ending four consecutive months of decline.
DOW index closed mixed components (15 black, 15 red). Most remaining shares rose Verizon Communications Inc. (VZ, + 1.17%). Outsider were shares of NIKE, Inc. (NKE, -2.68%).
Almost all sectors of the S & P ended the day in positive territory. The leader turned conglomerates sector (+ 1.6%). Most utilities sector fell (-0.1%).
At the close:
Dow + 0.18% 19,251.30 +35.06
Nasdaq + 0.45% 5,333.00 +24.11
S & P + 0.34% 2,212.24 +7.53