Major stock indexes in Wall Street rose for the first time just three days, thanks to the increase in the technology sector, but the weakness in oil prices limited the growth.
Technology Sector S & P500 rose by 1.0% and gave the biggest boost underlying index on a background of growth stocks Alphabet (GOOG) and Amazon.com (AMZN).
In addition, it became known that the US single family housing prices rose slightly less than expected on an annual basis in July, and in comparison with the last year the increase was smaller than in the previous month. The composite index of house prices from S & P / Case-Shiller 20 metropolitan areas rose by 5% in July on an annual basis, departing from the rise of 5.1% in June and forecast to increase by 5.1%.
However, a preliminary index of business activity (PMI) released by the Markit in the services sector rose to 51.9 in September, compared with the final value of the previous month’s 51.0. This marked the fastest monthly increase in activity since April. The pace of activity growth accelerated for the first time in three months, but remained relatively modest. At the same time, the growth of new orders fell to four-month low, and the company responded to the weak influx of new orders by reducing the rate of hiring labor. In this case there were no signs of inflationary pressure building for a month, as the purchasing and selling prices grew weaker pace than in August. Deteriorating confidence was also recorded in the last survey.
It should also be noted that the consumer confidence index from the Conference Board continued to improve in September. The index is currently 104.1 (1985 = 100) compared to 101.8 in August. the present situation index rose to 128.5 from 125.3, while the expectations index rose to 86.1 last month to 87.8.
Almost all the components of DOW index closed in positive territory (28 of 30). Most remaining shares rose NIKE, Inc. (NKE, + 1.85%). Outsider were shares of The Walt Disney Company (DIS, -0.36%).
Most of the S & P sectors showed an increase. The leader turned out to be the technology sector (+ 1.0%). Most fel lutilities sector (-1.0%).
At the close:
Dow + 0.74% 18,227.89 +133.06
Nasdaq + 0.92% 5,305.71 +48.22
S & P + 0.64% 2,159.92 +13.82
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