Market news
09.07.2018, 20:13

Major US stock indexes finished trading above the zero mark

Major US stock indexes rose significantly against the backdrop of a rise in the price of shares in the banking and industrial sectors, as investors expect a strong season of quarterly reports, turning a blind eye to trade problems.

An important data, which could have an impact on the mood of global sites, was not published. Investors continue to win back Friday's data on the labor market, which signaled that the Fed is likely to continue to gradually increase interest rates.

Prices for Brent crude rose by more than 1% on Monday, as rising global demand and US efforts to block oil supplies from Iran through sanctions outweighed fresh data on drilling activity, suggesting a further increase in shale oil production in the US.

Meanwhile, Friday is expected to publish quarterly results of a number of the largest financial institutions, namely JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC), which will kick off the corporate reporting season.

Most of the components of DOW finished trading in positive territory (25 out of 30). Caterpillar Inc. was the growth leader. (CAT, + 4.08%). Outsider were the shares of The Procter & Gamble Company (PG, -1.84%).

Almost all sectors of S & P recorded a rise. The sector of industrial goods grew most (+ 1.5%). The decrease was shown only by the utilities sector (-2.5%).

At closing:

Dow 24,776.59 +320.11 +1.31%

S & P 500 2,784.17 +24.35 +0.88%

Nasdaq 100 7,756.20 +67.81 +0.88%

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