Major US stock indexes finished trading in positive territory

Major US stock indexes have risen significantly, helped by the rally in the technology sector and the base materials sector, as well as favorable data on US retail sales.

The Commerce Department reported that retail sales rose 0.8% in October, after declining by 0.1% in September, as households bought electronics and household appliances. Economists had forecast a growth rate of 0.5%. On an annualized basis, retail sales grew by 4.6% after rising 4.2% earlier. With the exception of cars, gasoline, building materials and food, retail sales rose 0.3% last month. These so-called major retail sales most closely correspond to the consumer spending component of GDP. The retail sales report says that consumer spending retained most of its strong momentum at the beginning of the fourth quarter, probably keeping the economy on the path of strong growth, despite the trade deficit and the housing market, which is expected to worsen.

In addition, the focus was on statements by Fed Chairman Powell, who gave a positive assessment of the US economy, which can be regarded as the Fed's intention to continue raising interest rates next month. “The US economy is in good shape,” Powell said, adding that the last employment report for October was “very strong.”

Most of the components of DOW finished trading in positive territory (20 of 30). The leader of growth were shares of Cisco Systems, Inc. (CSCO + 5.46%). Walmart Inc. shares turned out to be an outsider. (WMT, -2.20%).

Most sectors of the S & P showed an increase. The technological sector grew the most (+ 1.8%). The largest decline recorded sector conglomerates (-1.0%)

At the time of closing:

Dow 25,289.27 +208.77 +0.83%

S & P 500 2,730.20 +28.62 +.06%

Nasdaq 100 7,259.03 +122.64 +1.72%