Moscow. November 12. U.S. stocks fell at the end of trading on 11 November, the volume of transactions was less than usual to mark U.S. veterans Day.
Investors digested reports of companies, data from China and began to doubt that the December rate hike by the fed is a foregone conclusion, writes MarketWatch. Traders estimate the possibility of increasing the cost of lending in the U.S. by the end of this year to 66%.
The bond market in the U.S. and banks were closed Wednesday, the stock trading took place on normal schedule.
“The markets are a bit tired after the violent move up from the end of September, which resulted in the S&P 500 have worked out the decline observed after the devaluation in China. It is not unusual for the markets to pause for a week with no news and catalysts”, – said the head of the Department of trade shares RBC Global Asset Management, Ryan Larson.
The growth of industrial production in China slowed in October to 5.6% yoy from 5.7% in September, returning to the level of January-March this year, which was the weakest since the 2008 financial crisis. Economists surveyed by Bloomberg on average predicted a rise of 5.8%.
However, retail sales growth in October accelerated to 11% yoy from 10.9% in the previous month and exceeded forecasts of the experts expecting the September saving rate.
Quotations ADR of the largest brewing companies in the world Anheuser-Busch InBev (AB InBev) at auction in new York on Wednesday rose by 2.2%, according to SABMiller in London increased by 2.2%. AB InBev made a formal offer to buy SABMiller Plc, the sum of transaction will make about 71 billion pounds ($107 billion).
Paper American brewer Molson Coors Brewing has risen by 4.4%.
The value of the shares of retailer Macy’s Inc. collapsed by 14% by the end of the main session in new York due to a sharp reduction in net profit in the third quarter and the deterioration of forecast annual revenue. However adjusted profit Macy’s was 56 cents a share, exceeding the consensus forecast of 54 cents per share.
Meanwhile, the price of securities of JC Penney Co. decreased by 1.8%, despite the settlement of litigation and positive quarterly reports.
The oil company experienced another sell-out of shares amid a sharp drop in oil prices the December contract for WTI ended the day at $42,93 per barrel. The value of securities of Marathon Oil Corporation. and Cabot Oil & Gas Corp. fell by about 8%.
The share price oil company Anadarko Petroleum Corp. dropped 3.8% after it admitted that he tried to buy rival Apache, but withdrew the proposal.
The reporting season in the US draws to a close, from the reported companies 74% exceeded expectations on profit, but only 44% published revenue better than forecast. Analysts on average estimate the drop in profits of the companies in the S&P 500 in the third quarter of 3.8%, thus improving the forecast of decline by 7.2%, declared before the start of the season.
The Dow Jones Industrial Average slipped 55,99 points (0,32%) – to 17702,22 item.
Standard & Poor’s 500 fell by at 6.72 points (0,32%), to 2075 points.
The value of the Nasdaq Composite declined 16,22 points (0,32%) – to 5067,02 item.