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Recession of the energy sector has limited the growth of the US stock-market

The US stock market has revealed a rise on Tuesday because of the UnitedHelth forecast that has provided the growth of health insurers’ securities. A sharp decline in oil prices has brought pressure on the energy sector stocks, which has limited the growth of major indices.

30.Nov.16 2:11 AM
By Anna Tuzova


Recession of the energy sector has limited the growth of the US stock-market

A slight rise has followed the Monday recession; according to analysts, the post-election rally might be winding down.

The Wall Street has grown significantly after the Trump’s electoral victory partly against the background of investors’ expectations that he will escalate budgets for the infrastructure, reduce income tax and regulation for companies. 

The health sector index has spearheaded the growth in S&P 500 and increased by 0,7 percent. The largest US health insurer UnitedHealth Group (NYSE:UNH) Inc’s securities have grown by 3,6 percent and have updated the record-high intraday maximum the next day after the company has published an income forecast for the next year that was beyond expectations. The AETNA’s securities have increased by 2,8%, another insurer companies’ stocks have grown as well.

The AbbVie indices went up by 3,6 percent.

The Dow Jones Index has revealed an increase by 0,12 percent to 19.121,6 points, S&P 500 – by 0,13 percent to 2.204,66 points, Nasdaq Composite Index – by 0,21 percent to 5.379,92 points.

At the same time the decline in oil prices has reflected negatively on the energy S&P index, which has fallen by 1,2 percent.

Tiffany stocks has increased by 3,1 percent to $80,60 after the first for 8 quarters report about the growth of sales of the company.

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