Market news
18.10.2017, 20:11

The main US stock indexes rose on the basis of today's trading

The major US stock indexes finished higher, with the Dow Jones industrial index rising most, updating its record high with support from IBM, which reported strong earnings.

In addition, as it became known, in September, the pace of housing construction in the US fell to a one-year low, as Hurricanes Harvey and Irma violated the construction of single-family houses in the South, which indicates that the housing market is likely to remain a brake on economic growth in the third quarter. The laying of new homes fell 4.7% to a seasonally adjusted annual figure of 1.127 million units, the Commerce Department said on Wednesday. This was the lowest level since September 2016, which followed the August revised rate of 1.183 million units.

Meanwhile, the review of the Fed "Beige Book" indicated that economic activity in September and October continued to grow at a moderate pace, despite the hurricanes that hit the south-east of the country. In the area of ​​responsibility of the Fed-Richmond, the Fed-Atlanta and the Fed-Dallas, heavy consequences of natural disasters were noted. The impact of Hurricane Irma on the tourist sphere of Florida was especially noticeable. The survey also showed that employment growth "was generally modest," while labor markets across the country were marked by high labor demand. The rate of inflation has also remained modest since the release of the latest Beige Book, which corresponded to other indicators of price dynamics. The increase in prices was noted in the transport and energy sectors, and in construction.

Most components of the DOW index recorded a rise (19 out of 30). The leader of growth was the shares of International Business Machines Corporation (IBM, + 9.23%). Outsider were shares of Chevron Corporation (CVX, -1.77%).

Most sectors of the S & P index finished trading in positive territory. The financial sector grew most (+ 0.5%). The largest decrease was in the base resources sector (-0.6%).

At closing:

DJIA + 0.70% 23,157.60 +160.16

Nasdaq + 0.01% 6,624.22 +0.56

S & P + 0.07% 2.561.26 +1.90

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