Market news
26.07.2017, 20:07

The main US stock indices rose as a result of today's trading

The main stock indexes of Wall Street finished the session above the zero mark, receiving a boost from confident corporate profits.

In addition, some influence on the dynamics of trading was provided by data on the US housing market and the results of a two-day meeting of the Federal Reserve.

The Commerce Department reported that in June, sales of new homes in the US rose for the second consecutive month, as purchases in the West rose to nearly a 10-year high, but a serious shortage of real estate remains an obstacle to a robust recovery in the housing market. Sales of new buildings rose by 0.8% to a seasonally adjusted annual level of 610,000 units. The pace of sales for May was revised to 605,000 units from 610,000 units.

As for the Fed meeting, as expected, the Central Bank left the range of interest rates on federal funds unchanged, between 1.00% and 1.25%. This decision was taken unanimously (9 members of the FOMC voted "for"). The FOMC Accompanying Statement reported that the process of reducing the balance will begin "pretty soon." In general, the Fed management did not make it clear that weak inflation data changed their plans for another rate increase this year. "The situation on the labor market continued to improve. The growth of jobs is "strong", the unemployment rate has declined, "the FOMC statement said. - Economic activity "is growing at a moderate pace." The costs of households and companies also continued to grow. Short-term risks for the economy, in general, are "balanced". "

Oil prices rose by more than 1.5%, reaching an almost 8-week high, as a significant drop in US oil inventories reinforced expectations that the long-oversaturated market is moving toward a balance of supply and demand. The US Energy Ministry reported that US oil inventories fell sharply last week, as refineries increased their workload. In addition, there was a reduction in gasoline stocks and distillate stocks.

Components of the DOW index finished trades in different directions (17 in negative territory, 13 in positive territory). The leader of growth was the shares of The Boeing Company (BA, + 9.56%). Outsider were the shares of Cisco Systems, Inc. (CSCO, -1.75%).

Most sectors of the S & P recorded a rise. The utilities sector grew most (+ 0.5%). The health sector showed the greatest decline (-0.3%).

At closing:

DJIA + 0.45% 21,710.12 +96.69

Nasdaq + 0.16% 6,422.75 +10.58

S & P + 0.03% 2.477.83 + 0.70

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