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06.06.2018 20:09

The main US stock indexes finished trading on the positive territory

Major US stock indices increased significantly on Wednesday, helped by the appreciation of Tesla shares (TSLA), as well as the growth of almost all sectors. In addition, market participants analyzed statistics on the United States and the next signals related to international trade.

The Commerce Department reported that the US trade deficit fell to a seven-month low in April, as exports rose to a record high, supported by an increase in supplies of industrial materials and soybeans. According to the report, the trade deficit decreased by 2.1% to $ 46.2 billion, which is the lowest level since September. Data for March were revised to show that the trade balance deficit fell to $ 47.2 billion, instead of the previously announced $ 49.0 billion. Economists predicted a trade deficit without changes in the amount of $ 49.0 billion in April.

In addition, as it became known, labor productivity in the United States grew more slowly than originally anticipated in the first three months of 2018, becoming a potential head-on wind for stronger economic growth. The productivity of non-agricultural workers, measured as the release of goods and services per hour of work, increased by 0.4% in the first quarter, according to seasonal fluctuations, the Ministry of Labor said. This was below the initial growth estimate of 0.7% and follows an unreviewed increase of 0.3% in the fourth quarter.

Most of the components of DOW have finished trading in positive territory (26 out of 30). The leader of growth was the shares of The Boeing Company (BA, + 3.07%). Outsider were shares of General Electric Company (GE, -0.91%).

Almost all sectors of S & P recorded a rise. The financial sector grew most (+ 1.2%). The decrease was shown only by the utilities sector (-1.7%).

At closing:

Dow 25,145.98 +346.00 +1.40%

S&P 500 2,772.28 +23.48 +0.85%

Nasdaq 100 7,689.24 +51.38 +0.67%

Market Focus

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  • Industrial producer prices rose by 0.1% in the euro area (EA19) and by 0.2% in the EU28
  • European Commission forecasts Euro Zone inflation will accelerate to 1.6 pct y/y in 2019 from 1.5 pct y/y seen in 2018
  • UK service providers signalled a modest rebound in business activity - Markit
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