Market news
16.07.2018, 20:23

The main US stock indexes finished trading mostly in the red

Major US stock indices fell mainly on Monday, as a sharp fall in crude oil prices affected the energy sector and offset the rebound of shares of financial corporations after strong results from Bank of America strengthened the expectations of the earnings season.

Negligible impact on the course of trading also provided data on the United States. As it became known, in June retail sales increased significantly, which was facilitated by an increase in purchases of cars and a number of other goods, which led to the revival of reliable economic growth in the second quarter. The Commerce Department reported that retail sales rose 0.5% last month. Data for May were revised upward to show an increase in sales of 1.3% instead of the previously achieved 0.8% growth. May's growth in retail sales was the largest since September 2017.

However, the results of research published by the Federal Reserve Bank of New York, showed that the region's production index fell in July slightly less than the average forecast of economists. According to the data, the production index in the current month fell to +22.6 points compared to +25.0 points in June. Previous value was not revised. Economists had expected the index to fall to +22.0 points.

Inventories in the US continued to grow in May, and sales recorded the largest increase in eight months, according to government data on Monday. The Ministry of Trade reported that inventories increased by 0.4% after an unrevised growth of 0.3% in April. The May growth in inventories, which are a key component of the gross domestic product, met the expectations of economists.

Most components of DOW finished trading in the red (18 out of 30). Outsider were shares of Caterpillar Inc. (CAT, -1.90%). Leader of the growth were shares of JPMorgan Chase & Co. (JPM, + 3.97%).

Most S & P sectors recorded a decline. The largest drop was shown by the commodity sector (-1.2%). The conglomerate sector grew most (+ 1.2%).

At closing:

Dow 25,064.36 +44.95 +0.18%

S&P 500 2,798.43 -2.88 -0.10%

Nasdaq 100 7,805.72 -20.26 -0.26%

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