Moscow. December 8. U.S. stock indexes on Monday lost about 0.7% following the fall in oil prices, which caused a decline in the stock prices of oil producers, reported Bloomberg.
Including the market value of Chevron Corp. and Exxon Mobil Corp. sank more than 2.6%.
The prices for oil of mark WTI collapsed by results of trades on Monday by 5.8%, to $37,65 per barrel, after falling 2.7% on Friday. The reason for this was the decision of OPEC to keep the actual oil production of about 31.5 million barrels a day. The members of the cartel agreed not to set quotas before its next meeting in June 2016.
“Weak oil is the topic of the day, said a stock trader Williams Capital Group Steven Carl LP. – The lack of data on Monday reinforced the effect of the losses the oil industry”.
“Stock markets this year, basically pour from the empty into the void, because the economic data is very weak, this applies mainly to global scenes – the analyst and portfolio Manager of Stifel Nicolaus & Co. Kevin Caron. As we get closer to the time when the fed is going to raise interest rates, which included a confrontation with a weak pace of global growth that seems likely to be a problem”.
After last week strong data on the U.S. labor market, the futures market now evaluate the probability of a rise of the basic interest rate in December to 78%. Out of the 73 economists surveyed by Bloomberg, only five people expect that the Federal reserve will keep rates on hold for the last in this year meeting, which will take place on 15-16 December.
Seven out of ten industry groups Standard & Poor’s 500 fell on Monday after oil and mineral companies. At the same time increased the subscripts phone and consumer industries.
The share price of Consol Energy Inc. and Williams Cos. fell by more than 13%, ConocoPhillips and Schlumberger – not less than 2.5%.
Capitalization of copper producer Freeport-McMoRan Inc. fell by 7.9%, the biggest decline in more than two months. The price of securities the Dow Chemical Co. and Nucor Corp. fell by 1.9%.
Paper steelmakers U.S. Steel Corp. fell by 8.8% – to the lowest level in 24 years.
Stock quote Chipotle Mexican Grill Inc. decreased by 1.7% due to the fact that the network of fast food restaurants warned of the likely decline in sales in the fourth quarter.
At the same time has risen in price not less than 2.6% of paper airlines JetBlue Airways, Delta Air Lines and United Continental. It is expected that the decline in oil prices will have a positive impact on the financial results of the airlines, as fuel accounts for the major share of their costs.
The Dow Jones Industrial Average on Monday dropped 117,12 points (0,66%) – to 17730,51 item.
Standard & Poor’s 500 at the end of trading fell by 14,62 points (0,7%), amounting to 2077,07 item.
The value of the Nasdaq Composite over the day decreased by USD 40.46 points (0,79%) – to 5101,81 item.
The volume of transactions amounted to about 7.4 billion shares, which is 4.8% more than the average daily figure for the last three months.