Yesterday the US stock market changed insignificantly during the session. As before, today the participants’ attention is focused on the meeting of the Federal Reserve System scheduled for the next week. The increase in bank shares has exceeded the decline in Apple shares.
The market expects that the Federal Reserve will leave the same rate as a result of the meeting, the start of which has been scheduled for Tuesday. Nevertheless, investors will analyze the speech of the head of the Central Bank Janet Yellen on Wednesday. They are going to do this in order to understand whether the regulator has plans to increase the rates in December.
By the end of the trade the Dow Jones index has fallen by 0.02 percent and amounted to 18.120,03 points on the stock exchange in New York.
S & P 500 index has been remained stable at 2.139,14 points, Nasdaq Composite Index has lost 0.18 percent and became equal to 5.235,03 points.
Traders give the estimation of 12% that rates will grow this week. At the same time, according to CME FedWatch program, the possibility of the rate increase in December is estimated at 55 percent .
Investors are also waiting for the outcome of the two-day meeting of the Bank of Japan, which will end on Wednesday as well as the election debate in the United States scheduled for next Monday.
Securities of JPMorgan, Bank of America and Wells Fargo have gone into growth, KBW bank index has grown by 0.5 percent.
Energy shares have lost 0.1 percent because oil quotes have lost the advantage in the bidding process which was scored in the recent past.
Shares of Apple have fallen by 1.2 percent after a sudden jump last week. This has had the most intense pressure on the central indexes.
Stock markets in Europe are also resistant at the session on Tuesday after they had made a strong jump in the previous auction.
The oil and gas sector index STOXX Europe 600 has dropped by 0.65 percent, showing the worst dynamics among all sectors. This has happened under the fall in oil prices caused by the announcement of Venezuela that the world export volume is expected to decline by 10 percent in order to lower the oil production to the level of the consumption.
Valuable papers BP, Saipem and Tullow Oil have lost 0.2 to 2.6 percent.
Meanwhile, the index of the European chemical companies has increased by 0.54 percent due to the strengthening of the securities of the German pharmaceutical company Bayer by 1.05 percent.