China and Europe keep Wall Street under control

2014 11 21 13 36 40 China Europe Flags AFP Banner.jpg 512×221 150x99 China and Europe keep Wall Street under controlThe New York stock markets have scarcely booked progress on Thursday mainly due to gains in the retail and energy sector.

Favorable economic data on the US economy gave sentiment a helping hand but didn’t take concerns about Europe’s weakness and Chinese economy’s slowdown away.

The Dow Jones Index closed 0.2 percent higher at 17719.00 points. The S & P 500 went ahead 0.2 percent, to 2052.75 points and the Nasdaq gained 0.6 percent to 4701.87 points.

 

Best Buy and Dollar Tree

Electronics chain Best Buy did good business with a capital increase of about 7 percent. The company knew to achieve higher sales in the third quarter. Discounter Dollar Tree surpassed its expectations in the third quarter results and saw an increase of 5.2 percent.

 

Energy Sector

The energy sector rose most of all ten groups within the S&P 500. The price of a barrel of US oil rose by 1.3 percent to $ 75.58. Brent oil was 1.4 percent higher at $ 79.21 a barrel. Supplier of drilling platforms Nabors Industries and Chesapeake Energy won to 3.9 percent.

 

Indicators

The index of leading indicators by research Conference Board rose by 0.9 percent last month, the largest increase since July. Economists foresaw a business barometer increase by 0.6 percent. Another boost was seen on sales of existing homes in the US in October rising 1.5 percent. The annualized sales pace converted to 5.26 million homes, the highest level since September 2013.

During the European morning trade was announced that the growth rate in the industry of the euro area in November was somewhat lower than in October. In China, the industry activity decreased to the lowest level since May.

The euro stood at $ 1.2545, against $ 1.2522 at the close of European stock markets.