Main US stock indexes continue to show neutral dynamics on Tuesday. Investors ‘ attention is gradually shifting to quarterly reporting of corporate segment during the third quarter, which will show how justified are the high valuation of companies.
In addition, as shown by the data today, index of economic optimism in the United States, calculated by the newspaper Investor’s Business Daily and the research firm TechnoMetrica Institute of Policy and Politics, fell in October by 5.8%, reaching the level of 50.3 points, the lowest reading in the last 12 months. Experts had expected the index to increase to 54.6 points compared to 53.4 in September. However, the index still remains above 50 points, that indicates optimism. It should be emphasized that the index is above the 50 level for 13 month in a row, which is the longest series of more than a decade. However, now the index is 5.9 points higher than in December 2007 when the economy entered into recession. The average value of the index for the entire history of observations is 49.2.
Oil prices jumped more than 2%, supported by the intentions of Saudi Arabia to cut oil exports in November, as well as comments from OPEC and the trading companies that the market regains balance after years of oversupply. Saudi Arabia announced in November plans to reduce shipments of crude oil 560 000 barrels per day. This step is another confirmation of the fact that OPEC members remain committed to the Pact on the reduction suggestions.
Most of the components of the DOW in positive territory (17 of 30). The leader of growth – Wal-Mart Stores, Inc. (WMT, +4.41%). Outsider – The Procter & Gamble Company (PG -1.56%).
Most sectors in the S&P in the red. The highest growth was in the utilities sector (+0.8%). The greatest decrease shows the health care sector (-0.2%).
At the moment the futures shown by the following dynamics:
Dow 22730.00 +19.00 +0.08%
S&P 500 2543.00 -0.75 -0.03%
Nasdaq 100 6042.00 -22.50 -0.37%
Oil 51.02 +1.44 +2.90%
Gold 1293.40 +8.40 +0.65%
U. S. 10yr 2.34 -0.02
Information-analytical Department Forex club