US stocks climbed on Wednesday in anticipation of political news


Moscow. June 8. INTERFAX.RU – Us stocks ended the session Wednesday with a moderate increase. Investors were waiting for important political events scheduled for Thursday, and generally ignored the collapse in oil prices. On Thursday, the ex-FBI Director James Comey will appear before Congress to answer questions relating to the possible intervention of Donald trump in the investigation against former national security adviser Michael Flynn.

Also on Thursday in the UK will have early elections, which, according to the expectations of most experts, the Conservative party strengthen its majority in Parliament. In addition, on June 8 will conclude the meeting of the European Central Bank (ECB), which this time takes place in Tallinn. It is expected that the Central Bank will lower inflation expectations in the Euro area for the current and next two years due to weaker-than-expected increase in fuel prices.

Shares of energy companies in the S&P 500 index, fell 1.4% after the collapse in oil prices by 5% because of disappointing investors data about fuel stocks in the United States. Capitalization of Chevron fell by 0.3%.

Among large companies, Nike shares rose 1.4%, and UnitedHealth – by 1.3%, American Express – by 1.2%. Meanwhile, prices for securities of Coca-Cola fell 1% as the price of Caterpillar stock. Capitalization of Navistar decreased by 1%. The truck manufacturer has recorded a greater than expected loss in the second finkvartal.

The price of securities of the manufacturer of alcoholic beverages Brown-Forman fell by 3.1%. Profit and revenue in the fourth finkvartal fell more forecasts, although sales of Jack Daniels whiskey grew by 3%. Shares of the manufacturer of microchips AMD Inc. increased by 2.9% on positive comments from the Apple, one of the largest customers of AMD. C beginning of the week the company’s securities rose in price by 14%. The market value of Pandora Internet radio Inc. fell by 3.1%. Market participants discussed the rumors that some investors intend to acquire the company.

The Dow Jones Industrial Average on June 7 increased by 37,46 points (0.18 percent) and amounted to 21173,69 points. Standard & Poor’s 500 increased by 3.81 points (0,16%) – to 2433,14 points. The Nasdaq Composite gained 22.32 points (0.36 percent) and amounted to 6297,38 points.

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