Wall Street blue chips gained speed and conquered new record on Monday trading session, as Dow Jones Industrial Average finished with growth of 0.24%, while during the trade expanded by more than 300 points. However, S&P 500 and Nasdaq wiped out some of their value.
The Republicans managed to pass the bill on tax reform. The proposal has yet to be worked on, but the expectation is that the change will be a fact by the end of the year. This led to revival, and the Wall Street blue chips index initially recorded a growth of more than 300 points. By the end of trading, however, moods changed and Dow Jones finished with raise of nearly 60 points, or 0.24% to 24,290.05 points. Boeing and Walt Disney were the best performing companies within the index.
The boarder S&P 500 failed to hold the growth from the start of the trading session, and at the end recorded a decline of 0.11% to 2,639.44 points. The trade of financial and telecoms companies were on greenfield during the session, but surrendered at the end of the day.
Against this background, Nasdaq’s decline was substantial, wiping out of 1.05% to 6,775.37 points. The value of the index exacerbates trading in shares of technology giants, including Facebook, Alphabet and Netflix.
The crude oil prices are declining for the first time in three sessions after news about raise of oil rigs in the United States. The price of US light crude dropped by 1.5% to 57.47 USD per barrel. The European benchmark Brent finishes at 62.45 USD per barrel, decreasing by 2%.
The gold loses its attractiveness as an asset shelter for investors amid expectations for a much more business-friendly environment in the United States. The precious metal fell by 0.4% to 1,277.70 USD per ounce.