Major US stock indexes closed in positive zone against the background of the fact that Greece will prevent default and due to both strong domestic macroeconomic data showing the US economic recovery. International creditors of Greece signaled its readiness to compromise to avoid a default.
In addition, the US trade deficit narrowed in April, easing one of the biggest obstacles to economic growth during the first months of the year. As reported by the Ministry of Commerce on Wednesday, the trade deficit decreased by 19.2% to a seasonally adjusted amounted to $ 40.88 billion. In April. It was the sharpest drop in more than six years, continuing the pattern of significant changes caused by the strikes in the ports of the West Coast. Economists had forecast a deficit of $ 44 billion.
However, in May, the index of business activity in the US service sector, calculated by the Institute for Supply Management (ISM), worsened, reaching 55.7 at the same level compared to the April reading at the level of 57.8. According to experts, the value of this index was down to 57.0.
Oil prices fell today as investors adjusted positions ahead of the OPEC meeting to be held this Friday. Earlier today, the head of OPEC's Abdullah al-Badri at the Sixth International Seminar OPEC have on the adequacy of supply and demand in the world oil market at the moment. At the same time, the UAE Minister of Energy Mohammed Suhail Al Mazruey expressed the opinion that the correction of balance of supply and demand on the oil market is not yet complete. Also on the dynamics of trade have affected the data on stocks of petroleum products in the United States. US Department of Energy reported that in the week of May 23-29, oil stocks fell by 1.9 million barrels to 477.4 million barrels, while the average forecast anticipated a decrease of 2.0 million barrels per day.
Most components of the index DOW closed in positive territory (20 of 30). Outsider shares were Intel Corporation (INTC, -1.97%). More rest up shares The Home Depot, Inc. (HD, 1.63%).
Sector S & P index finished trading mostly in positive territory. Most of the services sector grew ( 0.7%). Outsiders were utilities sector (-1.6%).
At the close:
Dow 0.34% 18,073.90 61.96
Nasdaq 0.40% 5,097.05 20.52
S & P 0.19% 2,113.69 4.09