Analytics, News, and Forecasts for CFD Markets: stock news — 21-12-2017.

The main indices of Wall Street have slightly increased, as investors expect a reduction in corporate tax rates, which will prompt companies to spend their additional capital on dividends, new projects and higher wages.

In addition, as it became known today, the US economy grew at the fastest pace for more than two years in the third quarter, relying on reliable business expenses, and is ready for what can be gained modestly in the coming year from drastic tax cuts taken Congress. The GDP grew by 3.2 percent year-on-year in the previous quarter, the Ministry of Commerce reported in its third GDP estimate. Although the estimate fell slightly from the 3.3 percent reported last month, it was the fastest rate since the first quarter of 2015 and was higher than the 3.1 percent increase in the second quarter. It also marked the first time since 2014 that the economy showed an increase of 3 percent or more for two consecutive quarters. But the growth rate for the period from July to September, probably, overestimate the health of the economy. Economists expected that GDP growth will be at the level of 3.3 percent.

Meanwhile, the Ministry of Labor stated that the number of Americans applying for unemployment benefits for the first time increased more than expected last week, but the main trend remained in line with the tightening of the labor market. Initial applications for state unemployment benefits increased by 20,000 to 245,000, seasonally adjusted for the week ending December 16. Data for the previous week were not revised. Since mid-October, applications have been limited to a range of 223,000 to 252,000. Economists expected that circulation would rise to 231,000.

Most components of the DOW index finished trading in positive territory (19 out of 30). The leader of growth was shares of Chevron Corporation (CVX, + 3.61%). Outsider were shares of Intel Corporation (INTC, -1.62%).

Almost all sectors of the S & P index recorded an increase. The raw materials sector grew most (+ 1.6%). The utilities sector showed the greatest decrease (-0.8%).

At closing:

DJIA + 0.22% 24.782.15 +55.50

Nasdaq + 0.06% 6.965.36 +4.40

S & P + 0.20% 2.684.58 +5.33

U.S. stock-index futures were slightly higher on Thursday as the Republican tax reform passed its final vote before going to President Donald Trump for his signature.

Global Stocks:

Nikkei 22,866.10 -25.62 -0.11%

Hang Seng 29,367.06 +132.97 +0.45%

Shanghai 3,300.68 +13.08 +0.40%

S&P/ASX 6,060.40 -15.20 -0.25%

FTSE 13,072.56 +3.39 +0.03%

CAC 5,351.45 -1.32 -0.02%

DAX 13,062.19 -6.98 -0.05%

Crude $57.78 (-0.53%)

Gold $1,268.90 (-0.06%)

(company / ticker / price / change ($/%) / volume)

Chevron (CVX) target raised to $160 at Cowen

Caterpillar (CAT) target raised to $160 from $145 at Citigroup

Exxon Mobil (XOM) upgraded to Focus Stock at Scotia Howard Weil

JPMorgan Chase (JPM) upgraded to Buy from Neutral at Buckingham Research

On daily time frame chart, we can see that the price is stuck in a consolidation zone.

We also can see that the price didn't respect the candlestick pattern.

However, if it keeps rejects the top of the consolidation then it can be possible to see the price falling to the bottom of the consolidation.

European stock markets dropped for a second straight day on Wednesday, with some preholiday selling taking place as the U.S. made a huge leap forward in approving highly anticipated tax reform.

Stock-market indexes closed marginally lower on Wednesday, with the Dow and S&P 500 retreating from record levels for a second session, as congressional Republicans sent tax-cut legislation to President Donald Trump for his signature. The small declines by major indexes belied bullish market breadth, however. Exchange data showed advancers outnumbered decliners on the NYSE and Nasdaq.

Asian markets offered a muted reaction on Thursday to the passage of US tax cuts as benefits to company bottom lines were already baked into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.