Major US stock indices closed in positive territory on the background of growth of business activity and strong quarterly results, stimulating investor confidence.
"Now everything is determined by the financial statements," - said Bill Northey, an expert U.S. Bank. He added that in the last session of the driver of the dynamics in the stock markets were the financial performance of companies rather than macro-economic events.
In addition, as shown by the October data, the US manufacturers have started confidently fourth quarter, with output and new orders rose significantly stronger than in September. The rebound in business conditions contributed to increased purchases among manufacturers and renewed pressure on capacity. At the same time, manufacturers have sought to increase their resource stocks, while the rate rose for the first time since November 2015. Manufacturers reported that supported domestic economic conditions are a key factor in the growth, helping to offset sluggish export sales in October. On a seasonally adjusted, pre-production managers' index in the US supply of Markit (PMI) jumped to 53.2 in October, with a three-month low of 51.5 in September.
The price of oil fell moderately against the background of a partial profit-taking, as well as indications that the assumption of OPEC to reduce oil production may encounter obstacles. Over the weekend, the head of Iraq's state-owned SOMO Falah al-Amri said that Iraq does not intend to reduce the current level of oil production. He also noted that the volume of oil production in the country is a matter of its sovereignty. In addition, Iraqi Oil Minister urged to resolve Iraq does not participate in the transaction on the level of oil production frozen. He said that Iraq must receive the same privileges as Libya and Nigeria.
Most DOW components of the index showed an increase (21 of 30). More rest up shares Microsoft Corporation (MSFT, + 2.10%). Outsider were shares of Chevron Corporation (CVX, -0.72%).
Most Sector S & P index closed in positive territory. The leader turned out to be the technology sector (+ 0.9%). the health sector fell the most (-0.2%).
At the close:
DOW + 0.42% 18,221.35 +75.64
Nasdaq + 1.00% 5,309.83 +52.43
S & P + 0.46% 2,151.08 +9.92
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