US markets close higher today: 16.08.2017

American indices closed higher today. The three major indices were trading higher, but they erased part of their gains as the business community backlash against Trump. The meeting minutes from the FED also caused the markets to move but reacted positively. Fundamentally the economy is growing but there are some indicators that shows risks exist to the downside. FED members forecast that inflation will remain below their target of 2% and this will be negative for the future of rate, as they may be raised much slower than originally anticipated. The President dismantled his strategic and political reforms group and this puts a shadow over the future of Trump's reforms. The worst than expected data from the housing starts and permits did not support the USD.

DJIA:  25.47 points/  0.12%  - 22,024.46

S&P:  3.49 points/   0.14%   - 2,468.11

NASDAQ:  12.10 points/ 0.19%  -  6,345.11

RUSS 2000:  -1.03 points/ -0.07% - 1,382.21

VIX:  11.89

Apple reached the record level of 160.80

For the S&P 500 index higher were trading the Material and Utilities sectors, but retailers fell.

For DJ, higher were trading Home Depot and United Technologies

The price of Oil fell to $46.70 per barrel, even after the inventories data were better than expected. The bearish trend for the commodity continuous. The USD again it fell, after it gains some track, but the FED's meeting minutes did not support the currency. The Euro is higher as it reached the level of $1.17700 again and we expect to continue to go higher.

Source of the graph: Bloomberg Pro Terminal

Trader - S. Fuchedzhiev

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