Market news
30.11.2017, 21:07

The main US stock indexes completed the session with a significant increase

The main stock indexes showed a steady increase, with the Dow Jones industrial index breaking through the 24,000 mark for the first time in history, amid the fact that President Donald Trump's tax cuts plan can receive sufficient support for implementation.

The focus was also on the United States. The US Department of Commerce said consumer spending rose 0.3% in October after nearly 1% growth in the previous month, which was the largest increase in eight years. The result coincided with the forecasts of economists. Personal incomes grew by 0.4% for the second month in a row. Meanwhile, the savings rate increased to 3.2% from 3%. In September, savings fell to a 10-year low. The PCE index, the Fed's preferred inflation rate, rose 0.1% in October. The so-called "basic" indicator, which excludes food and energy, increased by 0.2%.

In addition, it became known that the number of Americans applying for new unemployment benefits fell last week, confirming the overall strength of the labor market. Initial applications for unemployment benefits, a gauge of layoffs in the US, fell by 2,000 to 238,000, seasonally adjusted in the week ending November 25, the Ministry of Labor said. Economists were expecting 240,000 new applications last week. The drop in appeals indicates a strong and continuing tightening of the labor market, which can contribute to the growth of wages. Employers in the US accelerated hiring in October, reducing the unemployment rate to 4.1%, which is the lowest since the early 2000s.

Most components of the DOW index recorded a rise (24 out of 30). The leader of growth was the shares of United Technologies Corporation (UTX, + 2.88%). Outsider were shares of General Electric Company (GE, -1.27%).

All sectors of the S & P index finished trading in positive territory. The industrial goods sector grew most (+ 1.1%).

At closing:

DJIA + 1.39% 24,272.56 +331.88

Nasdaq + 0.73% 6,873.97 +49.58

S & P + 0.82% 2,647.56 +21.49

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