Major stock indexes on Wall Street showed a decline in the last trading day of summer on the background of the intensified decline in oil prices.
Oil prices fell by more than 3% after weekly government data pointed to a marked increase in crude oil inventories in the United States.
US Department of Energy reported that in the week from August 19 to 26 commercial oil stocks rose 2.28 million barrels to 525.87 million. Analysts had expected growth stocks only 1.31 million barrels. Oil reserves in Cushing terminal fell by 1 million barrels to 63.9 million barrels.
As shown by data provided by Automatic Data Processing (ADP), employment growth in the private sector of the US slowed in August, but were slightly above forecasts of experts. According to the report, in August, the number of employees increased by 177 thousand. People in comparison with the upwardly revised July index at the level of 194 thousand. (Originally reported growth of 179 thousand.). Analysts had expected the number of people employed will increase by 175 thousand.
At the same time, it became known that the transaction is pending home sales in the US rose in July after two consecutive months of decline, as demand rose almost across the board, suggesting that the housing market remains on solid ground. The National Association of Realtors reported Wednesday that the index of pending home sales, based on contracts signed in the past month increased by 1.3 percent to 111.3, finishing second in a period of ten years.
In addition, the Managers Association of Chicago reported that the PMI index fell to 51.5 against 55.8 in July. It was expected that the figure will be 54.0 points.
Most DOW components of the index closed in negative territory (20 of 30). Most remaining shares rose Intel Corporation (INTC, + 0.49%). Outsider were shares of Chevron Corporation (CVX, -1.17%).
Most of the S & P sectors registered a decline. The leader turned conglomerates sector (+ 0.6%). Most of the basic materials sector fell (-1.5%).
At the close:
Dow -0.29% 18,400.40 -53.90
Nasdaq -0.19% 5,213.22 -9.77
S & P -0.24% 2,170.87 -5.25