The main US stock indexes finished the auction with an increase, updating the record highs, which contributed to corporate reporting and statistics on the US housing market. At the same time, a significant decline in IBM shares prevented the Dow index from showing more serious growth.
According to the Ministry of Trade, housing construction finished the second quarter on a stronger note, as the bookings of new houses were restored in June at the fastest pace in four months. The laying of new homes increased by 8.3% to 1.22 million units (recalculated for annual rates). The laying of new houses for May was revised to 1.12 million from 1.09 million. Construction permits grew by 7.4% to 1.25 million per annum. The construction of single-family houses grew by 6.3% to 849,000 on an annualized basis. Bookmarks for apartment buildings jumped by 13.3% in June, to 366,000 in annual terms.
Oil prices rose by more than 1.5%, receiving support from statistics on oil products in the US, which indicated a more significant than expected decline in oil reserves. The US Energy Ministry reported that in the week of July 8-14, oil reserves fell by 4.727 million barrels to 490.62 million barrels. Analysts had expected a reduction of only 3.21 million barrels. Oil reserves in the Cushing terminal fell by 23 thousand barrels to 57.54 million barrels.
Most components of the DOW index recorded a rise (24 out of 30). The leader of growth was the shares of E. I. du Pont de Nemours and Company (DD, + 1.55%). Outsider were the shares of International Business Machines Corporation (IBM, -4.39%).
All sectors of the S & P index showed growth. The maximum increase was shown by the conglomerate sector (+ 1.2%).
At closing:
DJIA + 0.29% 21.636.50 +61.77
Nasdaq + 0.64% 6.385.04 +40.73
S & P + 0.53% 2.473.67 +13.06