Major US stock indexes finished trading in negative territory, as shares of energy companies remained under pressure after oil prices fell for the fourth consecutive day.
In addition, as it became known, consumer prices in the US rose slightly in October, continuing the trend of steadily soft inflation. The consumer price index, which measures what Americans pay for everything from cakes to telephone, rose 0.1% in October, compared with a month earlier, the Labor Ministry reported. Prices for gasoline fell during October after hurricanes pushed fuel costs in September. Food prices lasted unchanged last month. Excluding food and energy prices, the so-called base prices rose by 0.2%.
However, US consumers modestly increased their spending in October, a sign that spending is slowing after a surge in sales in the previous month related to hurricanes. Sales in restaurants, retail stores and online shopping platforms rose 0.2% compared to the previous month, seasonally adjusted to $ 486.55 billion in October, the Commerce Ministry reported. Compared to the previous year, sales increased by 4.6%.
Quotes of oil moderately declined on Wednesday, reacting to a report from the US Energy Ministry, which unexpectedly pointed to the growth of oil reserves. The US Energy Ministry reported that in the week of November 4-10, oil reserves increased by 1.854 million barrels to 458,997 million barrels. Analysts had expected a decline of 2.2 million barrels.
Most components of the DOW index finished trading in the red (21 out of 30). Outsider were shares of Caterpillar Inc. (CAT, -2.46%). The leader of growth was shares of General Electric Company (GE, + 1.84%).
Almost all sectors of the S & P index recorded a decline. The largest decrease was shown by the consumer goods sector (-0.8%). Growth recorded only the financial sector (+ 0.1%).
At closing:
DJIA -0.59% 23,271.28 -138.19
Nasdaq -0.47% 6,706.21 -31.66
S & P -0.55% 2.564.62 -14.25
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