The main US stock indexes were on a positive territory for most of the session, but during the last minutes of trading the quotes fell sharply, as a result of which the auctions ended without a single dynamic. The main support for the market was provided by shares of the industrial segment and conglomerate sector.
Investors also evaluated a block of important data. The Commerce Department report showed that consumer spending, accounting for more than two-thirds of US economic activity, rose 0.1% last May, while consumer prices, excluding food and energy, rose 1.4% since May 2016. The slower growth in consumer spending followed strong performance in April and March. The economy is still on track to return to stronger growth in the second quarter after a modest expansion in the first three months of the year. At the same time, the price index for personal consumption expenditure (PCE) fell 0.1% in May from April, and when food and energy were excluded, it grew by 0.1%. The growth rate over the 12-month period for so-called core inflation has slowed since February, although Fed Chairman Janet Yellen said earlier this month that the fall was likely to be temporary.
At the same time, the final research results submitted by Thomson-Reuters and the Michigan Institute showed that in June US consumers felt more pessimistic about the economy than last month. According to the data, in June the consumer sentiment index fell to 95.1 points compared to the final reading for May of 97.1 points and the preliminary value for June of 94.5 points. It was predicted that the index will be 94.5 points.
Most components of the DOW index finished trading in positive territory. (25 out of 30). Leader of the growth were shares of NIKE, Inc. (NKE, + 10.91%). Outsider were shares of The Goldman Sachs Group, Inc. (GS, -0.89%).
All sectors of S & P recorded a rise. The conglomerate sector grew more than others (+ 1.9%).
Dow + 0.29% 21.349.63 +62.60
Nasdaq -0.06% 6,140.42 -3.93
S & P + 0.15% 2.423.41 +3.71