Major US stock closed below the zero mark

Major US stock indexes fell slightly, retreating from record levels, due to the weak reporting of the industrial heavyweight General Electric (GE) and a significant drop in oil prices.

As it became known, GE net profit fell by 34% per annum in the first half of 2017, to $ 1.9 billion. Revenues decreased by 7% to $ 57.2 billion. In the second quarter, GE net profit amounted to $ 1.4 billion , Which was 2.1 times less than last year. Revenue fell 12% to $ 29.6 billion.

Oil fell by about 2.7%, continuing yesterday's dynamics, which was due to another concern about the persistence of oil surplus in the world market after reports of growth in OPEC supplies in July. Supplies from OPEC members in July will exceed 33 million barrels per day, which is more than 600,000 barrels per day more than the average in the first half of 2017, according to Petro-Logistics SA, which tracks tanker movements.

Next week, Exxon Mobil (XOM), Chevron (CVX), Verizon (VZ), Boeing (BA), Procter & Gamble (PG), Intel (INTC), Caterpillar (CAT), Merck (MRK), Coca -Cola (KO), 3M (MMM) and many others. In addition, an important event next week will be a meeting of the Fed, which is scheduled for July 25-26.

Most components of the DOW index finished trading in the red (19 out of 30). Leader of growth were shares of Visa Inc. (V, + 1.50%). Outsider were shares of General Electric (GE, -2.92%).

S & P sectors demonstrated mixed dynamics. The utilities sector grew most (+ 0.7%). The largest decrease was shown by the sector of basic materials (-0.8%).

At this moment:

Dow -0.15% 21.580.07 -31.71

Nasdaq -0.04% 6.387.75 -2.25

S & P -0.04% 2.472.54 -0.91