The American stock market was in great advantage on Tuesday: Dow index has already increased by more than 100 pips, because traders are again investing in assets after two weeks of stress. Everyone is at the same time waiting for the conference of heads of central banks in the American Jackson Hole on this weekend.
The S&P index lost 2.1% for first half of August, now having its lowest price since November US elections. This was caused by the investors’ doubting the ability of Donald Trump to fulfil his promises in economics.
Nevertheless, the index has gained about 14% from the time of the US elections.
As Lindsey Bell, investment strategist at CFRA Research in New York said, market was all in expectations, as the congress at Jackson Hole on weekend is planned.
By Tuesday evening, the Dow Jones Industrial Average index has increased for 0.5%, the S&P 500 has gained 0.6%, Nasdaq has got + 0.92%.
9 of the 11 main segments of the market have grown. The best dynamics was shown by the Commodities index, which added 0.99 percent, thanks to the jump in prices for metals, including copper.
Freeport stocks gained 4.9% after Indonesia intended to enter into an agreement allowing to continue mining copper in Papua.
Since the department stores announced a restructuring and working places loss, Freeport has got the first position on S&P. The second is Macy’s, whose stocks rose more than 2.6%, which is $20.04.
On the other side of the balance were Coty, decreasing more than 11%.
Medtronic shares fell by about 1.8% to $81.9 after the release of the report opposite to forecasts.
Toll Brothers shares lost more than 4% due to poor data on revenue and a decrease in the forecast of gross margin.