New records on Wall Street, focus on the energy sector

On Thursday, Wall Street stock market indexes reached new record levels after a mild decline the day before, and the energy sector jumped most because oil prices reached the highest levels in three years.

Dow Jones strengthened 0.81 percent to 25.574 points, while S & P 500 rose 0.70 percent to 2.767 points, and Nasdaq index 0.81 percent to 7.211 points.

The day before S & P 500 and Nasdaq index fell slightly for the first time this year, yesterday, as well as Dow Jones, reached the newest levels in history. At most, the S & P energy sector jumped by 2 percent, thanks to the sharp rise in oil prices after it was announced that unexpectedly dropped production and “black gold” stocks in the United States. This data prompted a $ 70 rocket launch in the London market, which is its highest level since December 2014. The stock prices in consumer and industrial sectors have also increased considerably.

“Behind the present, but growing whole week this year, there is growing confidence in investors to boost the economy. This explains a good image of demand, which fueled oil prices above $ 70, “says Scott Clemons, a strategist at Brown Brothers Harriman.

Market support also provides investor optimism ahead of the announcement of quarterly business results.

In the Reuters survey, analysts estimate that earnings from S & P 500 index companies in the last quarter of the year rose 11.8 percent compared to the same period a year earlier, with the biggest jump expected in the energy sector.