Disappointing corporate results of several “heavyweights” sent major stock indexes Wall Street into negative territory, while investors sought clues on the timing of the next increase in interest rates in anticipation of the Fed meeting next week.
In addition, a report from S & P / Case-Shiller showed that nationwide house price index rose 5.3% in August, compared with growth of 5.0% last month. The index for the 10 metropolises showed an increase of 4.3% compared with 4.1% in the previous month. to 20 mega-cities index showed an increase of 5.1% per annum compared to 5.0% in July. On a monthly basis before seasonal adjustment of the national index showed an increase of 0.5% in August.
Meanwhile, the Federal Agency for Housing Finance reported that US home prices rose in August by 0.7 percent compared to July. Previously reported increase of 0.5 percent in July remained unchanged. From August 2015 on August 2016 prices rose by 6.4 per cent.
The consumer confidence index from the Conference Board, which increased in September, declined in October. The index is currently 98.6 (1985 = 100) compared to 103.5 in September. the present situation index fell to 127.9 from 120.6, while the expectations index fell to 87.2 last month to 83.9.
It should also be noted that the index of economic optimism in the US, calculated by the newspaper Investor’s Business Daily and research firm TechnoMetrica Institute of Policy and Politics, rose in October by 4.6 points, reaching 51.3 points (up to April 2015). Experts had expected the index to rise to 47.6 points.
Oil futures fell by about 1.5 percent as traders continue to analyze comments from OPEC about declining production prospects, as well as waiting for the publication in the US petroleum inventory data. Many experts remain confident that OPEC will be able to work out a final agreement at the meeting on 30 November.
Most DOW components of the index closed in negative territory (17 of 30). Outsider were shares of The Home Depot, Inc. (HD, -3.41%). More rest up shares The Procter & Gamble Company (PG, + 3.70%).
Most sectors of the S & P showed a decline. the services sector fell the most (-0.6%). The leader turned utilities sector (+ 0.3%).
At the close:
Dow -0.29% 18,170.57 -52.46
Nasdaq -0.50% 5,283.40 -26.43
S & P -0.38% 2,143.25 -8.08
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