Market news
07.02.2018, 21:11

The main US stock indexes finished trading in negative territory

The main US stock indexes bargained for most of the session with an increase, but finished trading in negative territory amid a new wave of risk aversion.

Important statistical data that could have an impact on the mood of market participants, was not published.

A certain influence was made by the statements of the President of the Federal Reserve Bank of New York William Dudley and the president of the Federal Reserve Bank of Chicago, Charles Evans. Dudley said that the sharp fluctuations of the stock market, observed in recent days, did not change his assessment of the economy and the outlook for monetary policy. However, Dudley said that the Fed leaders should monitor the situation. "If quotes in the stock market fall significantly and remain low, it will really affect the prospects for the economy, as well as my opinion on the further course of monetary policy," added Dudley.

Meanwhile, Evans said that he would prefer not to change rates until mid-2018, to be sure of a steady increase in inflation. "If in the middle of the year the Fed leaders have more confidence in the growth of inflation, further increases in rates will be justified," Evans said.To remind, this year Evans does not have the right to vote in the FOMC when making decisions on the rate.

Oil prices fell more than 2% to a monthly low, after data from the United States unexpectedly indicated an increase in petroleum products stocks, and increased concerns over excess supply during the weaker demand season. The US Energy Ministry reported that in the week of January 27 - February 2, oil reserves increased by 1.895 million barrels to 20.254 million barrels. Analysts had expected an increase in inventories of 3.189 million barrels. Oil reserves in the Cushing terminal were reduced by 711,000 barrels, to 36.3 million barrels.

Most components of the DOW index finished trading in positive territory (18 out of 30). The leader of growth was the shares of The Boeing Company (BA, + 2.51%). Outsider were the shares of Apple Inc. (AAPL -1.85%).

Most sectors of the S & P index recorded an increase. The conglomerate sector grew most (+ 0.8%). The largest decline was in the commodity sector (-1.9%).

At closing:

DJIA -0.08% 24,893.35 -19.42

Nasdaq -0.90% 7,051.98 -63.90

S & P -0.50% 2,681.66 -13.48

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