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American stock indices changed slightly and in different directions


In general, the restrained movements of the stock market in May indicate that investors have come to the conclusion that high inflation will be temporary and the Federal Reserve System (FRS) will not rush to curtail stimulus measures.

Meanwhile, the incidence of coronavirus in the United States continues to decline thanks to vaccinations. More than 62% of the country's adult population received at least one dose of the vaccine, according to data from the Centers for Disease Control and Prevention (CDC). On Saturday, 12.6 thousand new cases of infection were recorded in the country. This is at least since March 2020.

The index of business activity in the US manufacturing sector (ISM Manufacturing) in May increased to 61.2 points from 60.7 points in the previous month, according to data from the Institute for Supply Management (ISM). Analysts on average expected the index to rise to 60.9 points.

In addition, this week will be published data on unemployment in the US last month. US labor market statistics are likely to be critical for the Fed, which is developing a plan to roll back the stimulus that has supported the economy and markets for more than a year, The Wall Street Journal writes.

The Dow Jones Industrial Average rose 45.86 points (0.13%) to 34575.31 points.

Standard & Poor's 500 dropped 2.07 points (0.05%) to 4202.04 points.

The Nasdaq Composite lost 12.26 points (0.09%) to 13736.48 points.

Shares of the American cinema chain AMC Entertainment Holdings Inc. on Tuesday rose 22.1% after the company announced raising $ 230.5 million through the sale of new shares.

Cloudera Inc. jumped 23.8%. Private equity funds KKR & Co. and Clayton Dubilier & Rice (CD&R) buy cloud business platform developer for $ 4.7 billion.

The share price of the Chinese electric vehicle manufacturer NIO Inc. rose 10% in New York trading. The company increased shipments in May by 95% in annual terms. Citi analysts raised their recommendation for the stock to Buy from Neutral.

The market value of Boeing Co. increased 3.2% after Cowen raised its forecast for the stock to above market from on par with market.

Airline shares rose on Tuesday thanks to data from the Transportation Security Administration (TSA), which averaged 1.78 million passengers per day at US airports on a holiday weekend. This is six times more than last year, but 22% lower than in 2019. American Airlines Group Inc. rose 1.8%, United Airlines Holdings Inc. increased by 2.3%.

The material has been provided by InstaForex Company -