Major US stock indexes finished trading in positive territory

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