US stocks fell moderately, which was due to statements the head of the US Federal Reserve Janet Yellen that the valuation of shares is "generally quite high," and warnings about possible dangers. However, Yellen has described the risks of financial stability as a "moderate, not elevated," and said he did not see any signs of the formation of financial bubbles.
In addition, as shown by the data submitted by Automatic Data Processing (ADP), private sector employment has grown weaker in April than in March, while the growth was less than the expectations of experts. According to a report last month, the number of employees increased by 169 thousand. People from a revised downward indicator for March at 175 thousand. (Originally reported growth of 189 thousand.). We add, according to the average forecast value of this indicator was to reach 200 thousand.
However, labor productivity in the United States fell in the early months of 2015, becoming the latest sign of sluggish economic growth in the beginning of the year. The level of labor productivity in the non-agricultural sector of the economy, which is measured as the production of goods and services in the hour worked decreased by 1.9% to a seasonally adjusted in the first quarter, the Labor Department said Wednesday. Compared with a year earlier, the performance was up 0.6%.
It is also worth noting Message Energy Information Administration US Department of Energy. According to the Office, in the week April 25 - May 1 volume of commercial oil inventories in the US fell by 3.9 million barrels to 487 million barrels per day. Analysts had expected growth of reserves by 1.1 million barrels per day.
Almost all components of the index DOW finished trading in negative territory (27 of 30). Outsider shares were Microsoft Corporation (MSFT, -3.12%). Most stocks rose The Procter & Gamble Company (PG, 0.20%).
All sectors of the index S & P closed below zero. Outsiders were utilities sector (-0.9%) and basic materials sector (-0.9%).
At the close:
Dow -0.48% 17,842.18 -86.02
Nasdaq -0.40% 4,919.64 -19.69
S & P -0.44% 2,080.19 -9.27