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George Ma
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Stocks
May 6 08:37

New York stock indices rose on expectations of economic recovery

Key indices of the New York Stock Exchange showed moderate growth by the close of the session on Tuesday, May 5, amid expectations of a gradual recovery of U.S. economic activity.
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Dow Jones index rose by 141.69 points (0.60%) to 23,891.45. The S&P 500 index, which includes the 500 largest companies on the US market, rose by 26.58 points (0.94%) and ended up at 2869.32 points. NASDAQ electronic exchange index rose by 101.95 points (1.17%) to 8812.67.
Earlier on the same day June futures of Brent oil for the first time since April 15 were able to overcome the US$30 per barrel mark.
Oil prices on the world markets went up on May 1 amid the new OPEC+ agreement to aimed to reduce the level of raw materials production. Production was reduced by almost 10 mn barrels per day.
At the end of April, OPEC forecasted price growing to US$40. Such a price level is expected by the organisation by mid 2020.