Major stock indexes Wall Street ended the session mostly in positive territory. The dynamics of trading data dictated by the United States, as well as in the oil market situation.
US Bureau of Labor Statistics reported that labor productivity in the non-agricultural sector of the economy declined by 0.6% annually in the second quarter of 2016. Production volume increased by 1.1% and the number of hours worked increased by 1.7%.
In addition, as it became known, the number of Americans who applied for unemployment benefits rose less than expected last week, indicating stability in the labor market, which could push the Fed closer to raising interest rates. Primary applications for unemployment benefits for 2000 and increased by a seasonally adjusted reached 263,000 for the week ended August 27th. The data for the previous week were not revised. Economists forecast that initial applications for unemployment benefits will rise to 265,000 last week.
However, a report published by the supply (ISM) Management Institute showed that in August activity in the US manufacturing sector has deteriorated markedly. The PMI for the US the production sector was 49.4 points versus 52.6 points in July. It was expected that this figure will drop to 52 points.
The Commerce Department reported that construction spending remained unchanged in July, after rising 0.9% in June, with those previously reported decrease in June by 0.6%. In addition, construction spending in May was revised, and showed an increase of 0.1% instead of falling 0.1%. Construction costs rose by 1.5% compared to last year. Economists forecast that construction spending will grow by 0.5% in July.
Oil futures fell markedly, continuing yesterday's trend and updating the 3-week low. The pressure on prices have concerns about over-saturation of the market, which intensified after the publication in the US petroleum inventories report.
DOW index components were mixed (16 red, 14 black). Outsider were shares of American Express Company (AXP, -1.19%). Most remaining shares increased Wal-Mart Stores Inc. (WMT, + 1.78%).
Most of the S & P sectors closed in the red. conglomerates (-1.6%) sectors fell most. Maximizing showed the service sector (+ 0.3%).
At the close:
Dow + 0.10% 18,419.30 +18.42
Nasdaq + 0.27% 5,227.21 +13.99
S & P -0.00% 2,170.86 -0.09
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