Wall Street Drive To A New Record

Good car sales data in the United States today encouraged the day on Wall Street, allowing its main indicator reached a new record and continue the clear upward trend that ended November. A moderate increase of 0.58% or 102.75 points served the Dow Jones Industrial Average to reach 17879.55 points and closed with a new record.

The S & P 500 rose 0.64% and was close to breaking the record that was recorded last Wednesday, while the Nasdaq composite index rose by 0.60%. Much of today increases are attributed to the growth of the automotive market in November when auto sales in the US rose 4.6% to 1.3 million units.

The pace of sales in the penultimate month of 2014 was so frantic that reached a level equivalent to annual sales of 17.1 million cars, something not achieved since 2003, according to figures released today.
The sector’s opinion is that good numbers reflect the improved economic situation, a vision with which coincided analysts and investors today.

“More people have jobs and job security, wages are starting to increase the wealth of households is growing and it looks like 2015 will lower prices at the pump” gas, the vice president for sales of General Motors (GM) US, Kurt McNeil.

The good performance of the sector allowed several manufacturers recorded increases in the bag, if Chrysler Fiat group (2.99%), Toyota (1.30%), General Motors (0.97%) and Ford (0.82% ).

In the Dow Jones, despite falling oil prices, rising led today’s energy giants Chevron (+1,97%) and Exxon Mobil (+1,86%).

In addition to vehicles, construction helped boost the day on Wall Street, after learning that spending on the sector in the US grew by 1.1% in October, to 971,000 million, and scored its biggest gain since May.

Analysts had forecast for October increased 0.7%, after 0.4% decrease initially given for the month of September.

The data is considered a good example of the direction of the US economy, which this week meet new indicators to get a clearer picture of the situation.

Meanwhile, the oil market followed a day later giving news and Texas crude closed with a drop of 3.1% to a price of $ 66.88 a barrel, the lowest in five years.