Major US stock indexes ended in positive territory

Major US stock indexes rose significantly on Monday, helped by the rise in price of trade-sensitive industrial and technological stocks after the United States and China agreed on a temporary truce.

This agreement was reached this weekend in Argentina, where a meeting of G20 leaders was held. According to the agreement, the moratorium is introduced for a 90-day period in order for the parties to work out a final agreement on trade issues. In addition, China agreed to increase purchases of US-made agricultural and industrial products, as well as reduce tariffs on imported cars from the US, which now account for 40%.

In addition, as shown by a report published by the Institute for Supply Management (ISM), in November, activity in the US manufacturing sector rose sharply and exceeded forecasts. The PMI index for the manufacturing sector rose to 59.3 points from 57.7 points in October. Analysts had expected the index to improve to 57.8.

At the same time, construction spending in the United States fell for the third consecutive month in October, as spending on private projects declined. The Ministry of Commerce reported that in October, construction spending fell by 0.1% to $ 1.31 trillion, after declining by 0.1% in September (revised from 0.0%). Economists had forecast growth in construction spending by 0.4%. Meanwhile, in annual terms, construction costs increased by 4.9%.

Most of the DOW components showed a rise (21 out of 30). The growth leader was NIKE, Inc. (NKE, + 3.79%). The outsider was Verizon Communications Inc. (VZ, -3.53%).

All sectors of the S & P finished trading in positive territory. The growth leader was the commodity sector (+ 2.6%).