Market news
18.12.2018, 21:26

Major US stock indexes finished trading above zero

Major US stock indices rose slightly, helped by a rise in the industrial goods sector, a rise in technology stocks, and positive earnings reports.

Investors also expected clues as to whether the Federal Reserve would raise rates in the future. It is expected that tomorrow the regulator will raise rates to 2.25-2.50% from 2.00-2.25% and only slightly adjust its economic forecasts. Despite this, the Fed is likely to abandon claims of "further gradual increase" in interest rates due to a change in its position of waiting. Most likely, the forecast of the Fed management will assume two more rate increases in 2019, rather than three, as expected in September.

In addition, the focus was on data on the US housing market. As it became known, US housing construction was restored in November, caused by a surge in multi-unit housing projects, but the construction of single-family homes fell to a 1-1 / 2-year low, indicating a deepening weakness in the housing market, which could spread to a wider economy. The Commerce Department said on Tuesday that bookmarking new homes increased by 3.2% in November, seasonally adjusted to 1.256 million units on an annualized basis.

WTI oil prices collapsed more than 7% on Tuesday after reports of increased stocks and forecasts of record production in the US and Russia, combined with sharp sell-offs in stock markets due to worsening global growth prospects.

Most of the components of DOW recorded an increase (17 of 30). The growth leader was the shares of The Boeing Company (BA, + 4.40%). The outsider was Exxon Mobil Corporation (XOM, -2.21%).

Most sectors of the S & P ended in a plus. The growth leader was the industrial goods sector (+ 1.2%). The base materials sector fell the most (-1.1%).

At the time of closing:

Dow 23,675.64 +82.66 + 0.35%

S & P 500 2,546.16 +0.22 + 0.01%

Nasdaq 100 6,783.91 +30.18 + 0.45%

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