New York (Benchmark News) – U.S. stock exchanges on Wall Street ended markedly on trading Wednesday (30/11/2016). Energy sector stocks strengthened failed greenwash of Wall Street with the OPEC agreement.
The Dow Jones index rose 100 points to the 19,225.29 penetrates new record highs. Golman Sachs stock as strengthening, shares of Chevron and DuPont stock.
To S&P 500 index ended lower 0.25 per cent after penetrating the new record. “It feels like the market wanted to end trade this month with dance. A little givebank here on the last day of this month. Tomorrow, December had a pretty good time cycle, “said analyst at Wunderlich Securities, Art Hogan, as quoted cnbc.com.
There are two things that affect the December. Prices can be pushed up because interest rates hike decision approached. “In addition we see Nasdaq has weakened throughout the day, creating a further weakening in the market as a whole.”
The Nasdaq Index trun 2 percent more. But early in the session along with the Nasdaq S&P in positive area. Indexes on Wall Street has strengthened sharply. Even the Nasdaq and S&P bouncing down once on the highest level since July. While the Dow’s renewed record in March.
The market also responded to the OPEC agreed to trim production of approximately 1.2 million barrels per day. This figure is about 4.5 percent of current production. U.S. crude oil futures for January delivery surged 9.31 percent to settle at US $49,21 per barrel.
“Oil is the leader of the road and we had some good economic data,” said economists at the First Standard Financial, Peter Cardillo. “The agreement reduces oil production is good news and should grow a share. Better economic news because it demonstrates the growth of better…(Red)