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How major US stock market indexes fared on Tuesday

17 Mai 2017

Profits have been rallying not only in the USA but also in Europe and other areas that have been struggling for years.

After losing momentum and pulling back in the last week amid decreased risk appetite, the S&P 500 regained strength and had a positive start this week.

The UK's FTSE 100 Index climbed 0.9 percent, led by gains in shares of Vodafone Group.

The security industry was reeling after the WannaCry ransomware cyber attack that has infected more than 300,000 computers in 150 countries since Friday.The energy sector was the biggest percentage decliner after rising sharply in Monday's session. The stock lost $2.83 to $74.07.

CRAFTY: Etsy vaulted 21.6 percent after two private equity firms disclosed a combined 8 percent stake in the online crafts site.

Dow member Johnson & Johnson won 2.7 percent following an upgrade from J.P. Morgan, which projected stronger growth in J&J's pharma business due to expected new product approvals.

The S&P 500 index showed 55 new 52-week highs and 12 new lows, while the Nasdaq recorded 104 new highs and 49 new lows.

Oil prices rallied after Russia's energy ministry released a joint statement with Saudi Arabia calling for a continuation of a deal to restrain production ahead of an OPEC meeting on May 25.

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Meanwhile, Britain's Dan Evans fell to a straight-sets defeat by Jiri Vesely in the first round of the Italian Open. The Serbian player was in control during his service games and broke Lopez once in each set to secure the victory.

A Federal Reserve report showed United States manufacturing output jumped 1.0 percent in April, following a decline of 0.4 percent in March.

A significant increase by the price of crude oil generated some buying interest, with crude for June delivery surging up USD1.01 to USD48.85 a barrel.

Oil hit its highest in more than three weeks after top exporters Saudi Arabia and Russian Federation said supply cuts needed to last into 2018, a step towards extending an OPEC-led deal to support prices for longer than originally agreed. Heating oil rose 1 cent to $1.52 per gallon, while wholesale gasoline added 1 cent to $1.60 per gallon. Silver added 13 cents to $16.69 per ounce. Copper gained 1 cent to $2.55 per pound.

In currency trading, the dollar declined to 113.03 yen from Monday's 113.68 yen. The euro gained to $1.1095 from $1.0978. The 10-year Treasury yield ticked up to 2.34 percent from 2.33 percent late Friday.

Major stock indexes in Europe were mixed.

MARKETS OVERSEAS: In Europe, Germany's DAX was flat, while France's CAC-40 was down 0.2 percent.

Shares of Alphabet Inc. rose 0.4% after Waymo LLC, the driverless-car division of the Google parent, and ride-hailing startup Lyft Inc. said on Sunday they would work together to develop autonomous vehicle technology. According to the National Association of Home Builders, the Housing Market Index for May rose to 70, which improved investors' confidence.

How major US stock market indexes fared on Tuesday