Major US stock indices showed mixed dynamics

Major US stock indexes finished trading in different directions, but near the zero mark. Pressure on the market had a strong decline in quotations in the sector of basic materials. Investors also evaluated fresh statistics on the US economy and financial statements of large companies.

As it became known, new applications for unemployment benefits in the US fell more than expected last week, and the number of repeated applications for unemployment benefits fell to a 17-year low, indicating a tightening of the labor market, which could prompt the Fed to raise interest rates next month. Initial claims for unemployment benefits fell by 19,000 to 238,000, seasonally adjusted for the week ending April 29.

At the same time, labor productivity unexpectedly fell in the 1st quarter, which led to an increase in labor costs. The Ministry of Labor reported that labor productivity in the non-agricultural sector, which measures the hourly output per employee, decreased by 0.6% year-on-year. This was the weakest indicator for the year and followed an increase of 1.8% in the fourth quarter.

The cost of oil futures collapsed by almost 5%, reaching the lowest level since the end of November. Concerns over the growing global supplies and persistently high oil reserves actually offset most of the positions earned after OPEC reported the first eight-year oil production reduction agreement.

Most components of the DOW index showed a decrease (19 out of 30). Caterpillar Inc. shares fell more than others. (CAT, -2.21%). The leader of growth was UnitedHealth Group Incorporated (UNH, + 0.93%).

The S & P indexes have finished trading without a single dynamic. Most of all fell the sector of main materials (-1.8%). The highest increase was recorded in the consumer goods sector (+ 0.6%).

At closing:

DJIA -0.03% 20.951.24 -6.66

Nasdaq + 0.05% 6.075.34 + 2.79

S & P + 0.06% 2.389.54 +1.41