Market news

17 May 2017

The main US stock indexes completed the session in a negative territory

Major US stock indices fell significantly on Wednesday, as investors fled from risky assets amid uncertainty about the ability of US President Trump to implement tax and regulatory reform.

Reports that Trump asked FBI director Komi to stop the investigation into the former national security adviser raised the question of whether Trump tried to intervene in the federal investigation. In addition, today the congressman from Texas Al Green has already called on colleagues to announce Trump impeachment.

Oil prices rose by about 1%, helped by a positive report from the US Energy Ministry, which pointed to a drop in oil reserves, and gasoline and distillates. Additional support for oil was provided by the widespread weakening of the US dollar. The US Energy Ministry said that during the week of May 6-12, oil reserves fell by 1.8 million barrels to 520.8 million barrels. Analysts on average expected a drop in inventories at 2.283 million barrels. Oil reserves in the Cushing terminal increased by 35,000 barrels to 66.3 million barrels. The gasoline reserves decreased by 413,000 barrels to 240.7 million barrels.

Most components of the DOW index recorded a decline (25 out of 30). Most fell shares of The Goldman Sachs Group, Inc. (GS, -5.27%). The leader of growth was UnitedHealth Group Incorporated (UNH, + 0.57%).

Almost all sectors of the S & P index finished trading in the red. The conglomerate sector fell most of all (-2.9%). Growth was demonstrated only the utilities sector (+ 0.1%).

At closing:

DJIA -1.77% 20,609.28 -370.47

Nasdaq -2.57% 6,011.24 -158.63

S & P -1.81% 2,357.32 -43.35

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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