Major US stock indexes finished trading in positive territory

Major US stock indexes have risen significantly, helped by the rally in the services sector and the industrial goods sector after Donald Trump’s statements that trade negotiations with China are “going well.” The market was also supported by optimistic quarterly results.

In addition, the US data was in focus, the report showed that construction spending in the US remained unchanged in September, as the continued growth in private construction projects was offset by the largest decline in government spending in a year. The Commerce Department said that the constant value of construction spending followed a revised 0.8 percent jump in August. Earlier it was reported that in August construction costs increased by 0.1%. Economists predicted that by the end of September construction expenditures increased by 0.1%.

Meanwhile, the Institute for Supply Management (ISM) reported that in October, the manufacturing index fell to 57.7 points from 59.8 points in September. It was predicted that the index will be 59.0 points. New orders of companies in October continued to grow, but at a slower pace, the price index jumped up, while the employment index continued to grow, but at a slower pace.

Most of the components of DOW finished trading in positive territory (21 out of 30). The growth leader was DowDuPont Inc. (DWDP, + 8.01%). The outsider was Verizon Communications Inc. (VZ, -1.73%).

All sectors of the S & P showed an increase. The service sector grew the most (+ 2.3%).

At the time of closing:

Dow 25,380.74 +264.98 +1.06%

S & P 500 2,740.37 +28.63 +1.06%

Nasdaq 100 7,434.06 +128.16 +1.75%