Moscow. May 5. INTERFAX.RU – U.S. stock indexes finished trading on Thursday expressionless and multidirectional changes against the background of falling oil prices and the preparation of the Republican Congress to the partial annulment of the reforms of President Barack Obama in the financial industry and health care.
Macroeconomic releases and the reporting of large companies has faded into the background, writes MarketWatch.
The financial services Committee in the House of representatives of the United States Congress approved a bill Financial Choice Act, which aims to reduce regulation of the banking system of the United States. The bill, sponsored by representative Texas Republican Jeb, Henseling, suggests the abolition of the provisions of Dodd-Frank, enacted after the financial crisis of 2009.
In addition, the House of representatives supported by a whisker, the Act on health care in the United States (The American Health Care Act, FHCA) or Trumpcare, which repeals several key provisions of the health programme, adopted under Barack Obama. However, it is expected that the Senate can produce a bill is approved by the lower house.
As reported, the labor productivity in the US declined in the first quarter of 2017 at 0.6%, while labor costs jumped 3%. Analysts polled by FactSet had expected a decline of the first indicator by 0.2% and the second growth of 2.7%.
In addition, the number of Americans who first applied for unemployment benefits last week decreased by 19 thousand instead of the expected reduction by 12 thousand and $ 238 thousand
Meanwhile, the number continuing to receive unemployment benefit Americans for the week ended April 22, decreased by 23 thousand to 1,964 million figure was the lowest since April 2000.
Also, the Commerce Department reported that the trade deficit of the country in March fell slightly to $43.7 billion. Analysts on average were expecting in March, the deficit will grow to $44.5 billion
Before the Federal reserve (fed) expected retained the target range of interest rates on Federal loan funds (federal funds rate) at 0.75-1% per annum. At this statement, following the meeting of the marked weakening of economic activity in the United States, while in March it was indicated preservation of the moderate pace of economic growth.
Oil WTI with delivery in June fell by 4 may by 4.8%, to $45,52 per barrel, the lowest since Nov. The indicator of oil and gas companies fell by 1.8%, stock quotes Exxon Mobil Corp. – 1.3% ConocoPhillips – 2.5% Occidental Petroleum 3.6%.
Shares in the social network Facebook has lost in value by 0.6%, although profit and revenue in the last quarter exceeded the expectations of experts.
The price of Tesla securities Inc. decreased by 5%. Manufacturer of electric vehicles and batteries, reported a bigger-than-expected adjusted loss for last quarter, but revenue beat forecasts.
Capitalization of cosmetics manufacturer Avon Products fell by 22.2%. The company received an unexpected net loss in January-March, though its revenue grew at the predicted level.
The network operator of fast food restaurants Dunkin Brands Group increased the market value of 0.8%. The adjusted profit of the company in the first quarter rose more than economists ‘ expectations, but revenue was worse than expected.
Meanwhile, securities of the manufacturer of Ferrari sports cars has risen in new York by 7.2%. The company reported a net profit increase in last quarter by 60% and increasing revenue by 22%.
The Dow Jones Industrial Average by the end of session on may 4 was down 6.43 points (0,03%) – to 20951,47 points.
Standard & Poor’s 500 increased by 1.39 points (0.06 percent) to 2389,52 points.
The Nasdaq Composite gained 2.79 points (0.05%) and amounted to 6075,34 points.