The main US stock indexes mostly rose on Tuesday. The focus of market participants is the meeting of the Open Market Committee (FOMC) of the Fed, which begins today, and its results will be announced tomorrow.
In addition, as it became known today, producer prices in the US rose in November against the backdrop of rising gasoline prices and the cost of other goods, which led to the largest annual increase in almost six years and indicates a widespread acceleration of wholesale inflation. The Ministry of Labor on Tuesday said that the producer price index for final demand increased by 0.4% last month. The PPI increased with the same margin for three consecutive months. For the 12 months to November, the PPI rose 3.1%. This was the biggest increase since January 2012 and followed the growth of 2.8% in October. Economists predicted a PPI growth of 0.3% last month and an increase of 2.9% compared to the previous year.
Oil lost previously earned positions, and moved to negative territory, which was caused by partial profit-taking, and strengthening of the US dollar. In addition, investors assess the consequences of the suspension of the work of the key oil pipeline in Britain. The night before, Ineos reported that the Forties pipeline will be closed for "a few weeks" due to the increase in the crack that arose last week. About 445,000 barrels of oil per day are delivered via this pipeline, which corresponds to approximately 40% of the total number of North Sea oil producing capacities in Britain.
Most components of the DOW index finished trading in positive territory (16 out of 30). The leader of growth was the shares of The Goldman Sachs Group, Inc. (GS, + 3.05%). Outsider were shares of 3M Company (MMM, -1.33%).
Most sectors of the S & P index recorded an increase. The financial sector grew most (+ 0.7%). The utilities sector showed the greatest decrease (-1.4%).
At closing:
DJIA + 0.49% 24,504.80 +118.77
Nasdaq -0.19% 6,862.32 -12.76
S & P + 0.15% 2,664.11 +4.12
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