Dow Jones remained at record high

in #steempress8 years ago

Dow Jones again finished at a record high level, despite the declines in most US stocks in today's session. The index of blue chips was supported by shares of Goldman Sachs, the good production data in the US and continued strong growth in oil prices after the agreement of OPEC to reduce yields. Dow Jones rose by 0.36% in today's session to 19,191 points, after shares of Goldman Sachs rose by 3.35% and General Electric a little over 3%. Top losers in the index were shares of Intel, which erased 2.7% from its market capitalization.
The shares of the Goldman Sachs rose to their highest level before the financial crisis of 2008 because its prospects for development in the light of looming new administration in the White House and any regulatory relief.
S&P 500 recorded a decline of 0.35% to 2191 points. Most pressure on the index were the stocks of companies from the technology sector, as well as sectors of property and utilities, which dropped respectively by 2.29%, 1.56% and 0.9%.
Nasdaq decreased by 1.36% to 5,251 points, because of the sharp drop in technology stocks.
Yesterday and Dow Jones and S&P 500 reached record levels, which retreated because of the sharp rise in energy prices. Wednesday was the last day of November, which also affected the trade.
As for economic news today, the PMI index for November reached 54.1 points. The main engine of growth are domestic sales, as new industrial orders from abroad recorded a marginal increase. The investors expect the data on the labor market in the US that will be published tomorrow. They would give indications of possible decision of the US Federal Reserve to increase interest rates.
The oil futures rose to a 6-week maximum after prices widened growth rates in today's session because of OPEC agreement to freeze yields.
At the end of trading the US light crude oil rose by 1.62 USD (3.3%) to 51.06 USD per barrel. The gold futures for delivery in February fell by 4.5 USD (0.1%) to 1,169.4 USD per ounce. The investors currently sell assets considered safe havens at the expense of stocks and oil. The decline in gold prices, however, remained limited due to the restoration of shares, oil, yields on government bonds and the dollar.
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