Major US stock indices fell amid falling in all sectors after a report Alcoa began the season of quarterly reports on disappointing note.
Shares of the aluminum giant Alcoa (AA) fell by 11.4%, which was the worst day dynamics of day-to-five years. According to the published report, Alcoa profit for the third quarter of fiscal year 2016 was $ 0.32 per share, in line with the average forecast of analysts. At the same time, the company’s quarterly revenue was $ 5.213 billion., Several confounding market expectations at the level of $ 5.292 billion. It is worth noting that this was the last time when Alcoa reported back as one company. November 1, the company will split its business into two independent companies involved in raw materials (Alcoa) and high value-added production output (Arconic).
The cost of oil futures declined moderately, departing from the multi-month highs, which was caused by the publication of the report of the International Energy Agency (IEA). The IEA report says that world oil supply rose in September, but it was noticed the decline in world oil reserves in the vaults. “Forecast of supply and demand suggests that the market itself will remain in a supersaturated state during the first half of next year if OPEC will stick to the set threshold production, market re-balancing can occur more quickly.” – Says the IEA review. In addition, the IEA revised its forecast for oil demand in 2016 to 96.3 million barrels a day, which implies an increase of 1.2 million. To the previous year (previously expected to grow by 1.3 million.).
Almost all the components of DOW index closed in negative territory (28 of 30). More rest rose stocks Apple Inc. (AAPL, + 0.32%). Outsider were shares of Merck & Co., Inc. (MRK, -3.11%).
All business sectors S & P index showed a drop. the health sector decreased most (-2.4%).
At the close:
Dow -1.08% 18,131.23 -197.81
Nasdaq -1.54% 5,246.79 -81.88
S & P -1.24% 2,136.82 -26.84
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