Major US stock indexes finished trading mostly in the red, with the fall led by shares of industrial companies that are most likely to suffer because of the introduction of tariffs in the US and China.
Today, a new round of import tariffs between the US and China has entered into force against each other, and neither side shows any intention to abandon the protracted trade war.
In addition, as shown by data provided by the Federal Reserve Bank of Dallas, in September, business activity of Texas producers moderately deteriorated, despite the projected increase. According to the report, the production index of the Federal Reserve Bank of Dallas in September fell to 28.1 points from 30.9 points in August. Analysts had expected the index to rise to 31.0 points. Recall, the value of the index above zero indicates an increase in business activity.
Oil prices jumped more than 2% on Monday, reaching a four-year high after Saudi Arabia and Russia ruled out any immediate increase in production, despite President Trump's calls for action to boost the global supply.
Most of the components of DOW finished trading in the red (23 of 30). The leader of growth was the shares of The Walt Disney Company (DIS, + 2.15%). Outsider shares were DowDuPont Inc. (DWDP, -2.14%).
Most S & P sectors recorded a decline. The commodities sector grew most (+ 0.5%), while the industrial goods sector showed the largest decline (-1.1%).
At closing:
Index
Dow 26,562.05 -181.45 -0.68%
S & P 500 2,919.37 -10.30 -0.35%
Nasdaq 100 7,993.25 +6.29 +0.08%
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