Moscow. October 27. U.S. stock indexes on Monday have changed significantly and without any single dynamics after a substantial rise in recent days.
Key indicators are trading in a narrow range, as investors await the outcome of Federal reserve meeting, which will take place this week, according to MarketWatch. In addition, this week will report third quarter, more than 160 companies, whose shares are included in the calculation of Standard & Poor’s 500.
“The market needs a few quiet, slow days to digest the big rally last time,” said stock trader R. W. Baird & Co. Michael Antonelli.
Over the past week the S&P 500 added 2.1%, rising to its highest since August 19. The rise of indicator by the end of October may be the highest since 2011.
“No one expects the fed action, but all eyes will be on words. To say they that continue to target a rate increase this year. In this regard, the markets may be sluggish until the end of the meeting, – said the head of trading for Thornburg Investment Management Inc. Thomas Garcia Bloomberg. – This week will be a few large accounts, so people will look at what the company has to say about the third quarter, but also on what they say about the future results”.
According to experts, surveyed by Bloomberg, profits of companies from the S&P 500 over the past quarter decreased by 6.1%, with the most significant drop has showed the energy and raw materials companies.
Stock quotes Valeant Pharmaceuticals International Inc. on Monday fell by 5.3%. The pharmaceutical company announced the creation of a special Committee to investigate accusations about the use of a network of specialized pharmacies for the overstatement of revenue.
Securities course food producer Tyson Foods Inc. fell 4.9% after J. P. Morgan analysts downgraded the recommendation for them from “above market” to “neutral level”.
The market value of American Express, one of the leaders of the American market of plastic cards decreased by 0.5%, following the deterioration in the valuation of its shares to “sell” from “neutral level” experts UBS AG.
At the same time, the capitalization of Piedmont Natural Gas Co. jumped by 37%. U.S. electricity generation and gas distributor Duke Energy Corp. agreed on the acquisition of Piedmont Natural Gas, which supplies natural gas to 1 million customers in three us States for $4.9 billion In this paper Duke Energy fell 2%.
The share price of ABC Inc., holding company Google Inc., increased by 1.5%, Amazon.com of 1.6%.
The Dow Jones Industrial Average on Monday dropped by 23.65 points (0,13%) – to 17623,05 item.
Standard & Poor’s 500 at the end of trading fell by 3.97 points (0.19 percent), making 2071,18 item.
At the same time, the value of the Nasdaq Composite grew by 2.84 per item (0,06%) – to 5034,7 item.
The volume of transactions amounted to about 6.1 billion shares, which is 17% less than the average daily figure for the last three months.