Major US stock indexes lost all the previously earned positions, and ended the session in negative territory, which was due to the market's concern over trade, as well as the fall in the shares of the technology sector.
A certain influence on the course of trading was provided by the US data. As it became known, the deficit of trade in goods in May fell by 3.7% to $ 64.8 billion, the government said in its preliminary report. This was well below the economists estimate of 69.2 billion, surveyed by MarketWatch, and noted a second decline in a row. In May, the revised government report on wholesale stocks showed an increase of 0.5%. The revised retail stocks increased by 0.4%.
In addition, according to the National Association of Realtors, unfinished transactions for the sale of housing fell slightly in May and fell year on year for the fifth consecutive month. A more significant decrease in contract activity in the South compensates for profits in the Northeast, the Midwest and the West. The index of unfinished transactions for the sale of housing, the forecast indicator, based on the signing of contracts, fell to 105.9 from 106.4 in April.
Quotes of oil rose strongly on Wednesday, as the fall in oil reserves in the US exacerbated supply problems due to uncertainty about Libyan exports, a violation of production in Canada, and US demands that importers stop buying Iranian oil from November. The US Energy Ministry reported that last week it was recorded the largest drop in oil reserves since September 2016, while stocks of gasoline and distillates rose less than expected. According to the report, in the week of June 16-22, oil reserves fell by 9.891 million barrels, to 416.6 million barrels. Analysts had expected a drop in inventories of 2.572 million barrels.
Most of the components of DOW finished trading in the red (25 of 30). Outsider were shares of McDonald's Corporation (MCD, -2.16%). The leader of growth was shares of General Electric Company (GE, + 1.60%).
Almost all S & P sectors recorded a decline. The biggest decline was shown by the technological sector (-1.7%). Only the commodities sector showed growth (+ 0.4%).
At closing:
Dow 24,117.59 -165.52 -0.68%
S&P 500 2,699.63 -23.43 -0.86%
Nasdaq 100 7,445.08 -116.54 -1.54%
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