The US stock indexes conquered new territory on Wednesday amid a series of economic data and disclosure of excerpts from the “Beige Book” of Fed. The blue-chip Dow Jones Industrial Average raise the minimum 0.23% to 17,920.91 points, lead by UnitedHealth growing shares of 1.6% to 101.025 USD per share, while American Express led the losers components with a decline of 1.82% to 91.30 USD per share. The broader index S&P 500 rose with 0.46% to 2,076.34 points and the technological benchmark Nasdaq Composite grew with 0.52% to 4,780.03 points.
The index S&P for the energy sector registered a growth of 1.3%. With an increase of almost 5% Cimarex Energy is among the most profitable components in S&P. The market capitalization of Diamond Offshore increased by 3%.
Statistics by country showed that private sector employment in the US rose less than expected in November according to the latest data of Automatic Data Processing (ADP) and Moody’s Analytics. New job positions reached 208,000 last month with expectations for an increase of 222 000. The data from ADP last month you were revised up to an increase of 233,000 from the previous estimate of 230,000.
The breakdown shows that employment growth in small businesses largely remained for the second consecutive month, reaching 101,000 after an increase of 103,000 in the previous month. The growth in the average business has slowed down to 65,000 from 122,000 in solid previous month, commented analysts. The US economy is still in good shape, the evidence presented late Wednesday Economic Report of the Federal Reserve, known in financial markets and the term “Beige Book”. The paper analyzes the macroeconomic situation in the country through the eyes of central bankers.
In October and November, the economy has registered steady growth, it is clear from the document. Consumers have benefited from lower prices for gasoline and fuel.
Earlier today it became clear that in November the activity in the US service sector accelerated at a faster than expected pace – a signal that the largest economy in the world is gaining momentum. The index of the Institute for Supply Management (ISM) activity in the services sector rose to 59.3 points – just under the after recession record of 55.6 points made in August, which was the highest since August 2005. In October index stood at 57.1 points. Data for November were above the consensus evaluation of surveyed analysts by Reuters for 57.5 points.
The fashion chain Abercrombie & Fitch compensated the declines in the beginning of the session and ultimately reported growth of 4.8%. Over the past quarter revenue and profit collapse, but focus on fashion clothing for teenagers concern outperforming expectations for the coming year.
The crude oil futures for January delivery rose with 0.8%, or 50 cents to 67.38 USD per barrel on the New York Stock Exchange. The contracts on gold also rose with 9.3 USD to 1,208.70 USD per ounce.