Decline in oil prices increases pressure on stock indices

Baku. 10 January. REPORT.AZ/ Reducing energy and financial shares yesterday weighed on the S&P 500 index and prevented Dow Jones to reach the historical mark of 20,000 points.

Report informs citing the Investing.com, energy sector S&P lost 1.5%, as oil prices fell amid fears that growth in Iraqi exports and production in US will weaken the impact of the agreement by leading manufacturers on production cuts.

Many investors took a pause in anticipation of company's financial results for the fourth quarter and the inauguration of Trump on January 20. The financial sector lost 0.8%.

This week major banks will unveil quarterly reports, which for the first time will help to evaluate the results of companies in the last quarter. As expected, earnings of S & P 500 Index companies rose by 5.8% for the quarter, according to rater.

Shares of Goldman Sachs slowed by 0.8%, shares of technology IBM (NYSE: IBM) lost 0.9%, while ExxonMobil (NYSE: XOM) - 1,7%.

Dow Jones ended the day by decreased of 0.38% up to 19 887.38 points, S&P 500 index slowed by 0.35% - up to 2 268.90 points, while the Nasdaq Composite index gained 0.19%, rising to 5 531.82 points.