UNITED STATES (OBSERVATORY) – US stock indices are restrained in the first minutes of trading on Tuesday, while indicators Standard & Poor’s 500 and Nasdaq Composite updated the historical highs reached the previous day.
The Dow Jones Industrial Average index by 16:44 Moscow time on August 28 rose by 60.23 points (0.23%) – to 26.109.87 points. Standard & Poor’s 500 increased by 5.92 points (0.20%) – to 2902.66 points. Nasdaq Composite added 18.61 points (0.23%) to 8036.51 points.
The ICE Dollar Index fell by 0.3%, updating at least four weeks.
On the eve of the Nasdaq Composite rose above 8,000 points for the first time in history, the S & P 500 also updated the record, and the Dow Jones Industrial Average halted a step from the new high. The preliminary increase in the indices was facilitated by a preliminary agreement between the US and Mexico on the revision of the conditions of the North American Free Trade Area (NAFTA). However, negotiations with Canada have not yet resumed.
Despite the agreement with Mexico, the topic of foreign trade remains one of the main unfavorable factors for the US stock market.
Rising house prices in the 20 largest US cities in June slowed to a minimum since July 2016 – 0.1% compared to the previous month, according to S & P CoreLogic Case-Shiller. In annual terms, the rise was the weakest since December – 6.3%. Analysts on average expected an increase of 0.2% compared to May and 6.4% compared with June 2017.
According to preliminary data of the Ministry of Trade, the US deficit in the sphere of trade in goods increased in July to a maximum in five months – $ 72.2 billion against the revised $ 67.9 billion in June. Experts predicted a less significant increase – up to $ 69 billion in July from previously announced $ 68.3 billion in June.
Later on Tuesday, data on consumer confidence in the US economy will be released in August.
The price of Tiffany & Co. shares. rose 3.4% at the auction in New York due to positive reporting. The second largest chain of jewelry stores in the world increased net profit in the II quarter on 26%, to $ 145 million, revenue – by 12%, to $ 1.1 billion. Financial indicators were better than market expectations.
Shares of the chain of electronics stores Best Buy Co. Inc. have fallen in price by 4,6%. Revenue of the retailer in the II quarter grew at the fastest pace for 15 years, profit jumped by 16.7%, but the revenue forecast for the current quarter upset investors.
The value of securities of the network of store-stores BJ’s Wholesale Club Holdings Inc. decreased by 2.1%. The company, which returned to the open market on July 2, received a net loss in April-June of $ 5.6 million against net profit of $ 19.7 million a year earlier. Adjusted earnings per share exceeded market expectations, but quarterly earnings fell short of the consensus forecast.
Capitalization of the insurance company Aspen Insurance Holdings Ltd. increased by 2.2%. Aspen will be sold to the investment company Apollo Funds for $ 2.6 billion.
Shares of companies associated with the crypto-currency market are rising sharply against the backdrop of the longest bitkoy rally in a month. Marathon Patent group added 8.8%, Riot Blockchain – 5%, Seven Stars Cloud Group – 2.8%. The price bikkoyna on Tuesday exceeded $ 7000.