Major stock Wall Street indexes rose by about a percentage, as a rebound of shares Deutsche Bank (DB) has helped to raise the financial sector.
As it became known, the US consumer spending remained unchanged in August, but inflation has shown signs of acceleration, giving mixed signals that could affect the cautious policy of the Federal Reserve System in the issue of rising interest rates. The Commerce Department reported that consumer spending, which accounts for over two-thirds of US economic activity, has not changed in the last month, adjusted for inflation. Analysts had expected spending to increase by 0.1%.
However, the Purchasing Managers Index Chicago Purchasing rose by 2.7 points to 54.2 in September from 51.5 in August, recovering most of the lost ground in the previous month. On the basis of the trend, the report paints a slightly better picture than earlier this year with an average of 53.8 index in the 3rd quarter, compared to 52.2 in the 2nd quarter and the highest quarterly level since the 4th quarter of 2014 .
It should also be noted that the final results of the studies submitted by Thomson-Reuters and Institute of Michigan, revealed in September index of consumer sentiment rose to 91.2 points compared with a final reading of 89.8 points in August and the preliminary value of 89.8 points in September . It was predicted that the index is 90 points.
Oil prices returned to positive territory after a moderate decline previously, received support from a weaker dollar. Further increase in prices made it difficult to profit-taking by some investors after the price increase to one-month high, which contributed to the news of the agreement on the limitation of oil production. Meanwhile, experts say that the OPEC agreement may not lead to a result or even break due to disagreements between the two countries.
Almost all the components of DOW index closed in positive territory (29 of 30). Most remaining shares increased Wal-Mart Stores Inc. (WMT, + 2.11%). Cheaper shares only Verizon Communications Inc. (VZ, -0,06%).
Almost all sectors of the S & P index recorded an increase. The leader turned out to be the financial sector (+ 1.3%). Decreased only utilities sector (-0.5%).