Market news
22.08.2018, 20:12

The major US stock indexes finished trading in different directions

Major US stock indexes ended the session mixed, as the growth in the commodity sector was offset by a fall in the industrial goods sector.

Market participants also won back data on the housing market. The National Association of Realtors (NAR) said that sales of existing homes fell 0.7 percent to a seasonally adjusted annual figure of 5.34 million units last month. The July fall marked the longest monthly decline since 2013. Economists predicted that sales in the secondary housing market will grow by 0.6% to 5.40 million units in July. Sales fell in the Northeast, South and Midwest, but grew in the West. In July, there were 1.92 million homes on the market, unchanged from the year before. This was the first month in three years, when stocks did not fall on an annual basis, said Lawrence Yun, chief economist at NAR. With the July sales pace, it takes 4.3 months to exhaust current stocks. The average price of the house increased in July by 4.5 percent per annum, to $ 269,600.

In the focus of attention of investors were also the minutes of the Fed meeting. The document said that during the August meeting, the leaders of the Fed signaled the likelihood of an increase in rates next month and discussed in detail the concerns about how long-running trade disagreements could undermine economic growth. "If the situation in the economy develops in line with current expectations, it is likely that soon it will be expedient to take another step in terms of raising rates," the protocols say. Recall, at a meeting on July 31-August 1, the Fed left rates unchanged after the June rates were raised to 1.75% -2.00%.

Most of the components of DOW finished trading in the red (22 of 30). The leader of growth was the shares of Exxon Mobil Corporation (XOM, + 1.43%). Outsider were shares United Technologies Corporation (UTX, -1.97%).

Most sectors of the S & P recorded a rise. The commodities sector grew most (+ 1.2%). The sector of industrial goods showed the greatest decrease (-0.7%).

At closing:

Dow 25,733.60 -88.69 -0.34%

S & P 500 2,861.82 -1.14 -0.04%

Nasdaq 100 7,889.10 +29.92 +0.38%

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