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The Dow Jones New York Stock Exchange Index closed positive on Monday (Sept. 25), with the Dow Jones recovering after falling for four straight days earlier. Investors will be watching economic data and comments from Federal Reserve officials this week for clear signals about the Fed’s interest rate direction.
The Dow Jones Industrial Average closed at 34,006.88 points, up 43.04 points or +0.13%, the S&P 500 Index closed at 4,337.44 points, up 17.38 points or +0.40%, and the Nasdaq Index closed at 13,271.32 points, up 59.51 points or +0.45%.
Trading conditions on the New York Stock Exchange are volatile. By during the day The market was pressured by the 10-year US Treasury yield rising to a 16-year high after the Fed signaled it would keep interest rates high for a long time to stem inflation.
Investors are also worried that U.S. government agencies may be closed. or a shutdown on Oct. 1 if Congress makes no progress in passing a temporary budget. and forward it to President Joe Biden to sign into law by September 30.
Moody’s Investors Service issued its latest warning report yesterday that If U.S. government agencies are shut down It will affect the credit rating of the United States.
Eight of the 11 stocks included in the S&P 500 closed in positive territory, led by the energy sector’s gain of 1.3%, the materials’ index’s gain of 0.8% and the consumer goods index’s decline of 0.4%.
Shares of Amazon, the US e-commerce and cloud computing giant, rose 1.67% after reports that Amazon to invest up to $4 billion in artificial intelligence (AI) startup Anthropic, creating key partnerships to become a player Principles of Generative Artificial Intelligence (Generative AI) and to compete with competitors in the AI market
Dow Inc. shares, a major U.S. chemicals company, rose 1.7% after JPMorgan analysts raised the investment weight of Dow stocks to “Overweight”. From the level of “maintain investment weight” (Neutral)
Investors will be keeping an eye on comments from Fed officials this week. This includes Mr. Jerome Powell, Chairman of the Fed. Most recently, yesterday, Mr. Auston Goosby, President of the Chicago Fed, gave an interview to CNBC television station that Inflation numbers higher than 2%, which is the Fed’s target. It is still a risk that has a more severe impact than the Fed’s tightening of monetary policy.
Investors are also waiting to see important US economic data. Today there will be the release of July house prices from S&P/Case-Shiller, September consumer confidence index from the Conference Board and August new home sales. . On Wednesday, durable goods orders for August will be revealed.
For on Thursday The United States will release the number of weekly jobless claims, Gross Domestic Product (GDP) in the second quarter of 2023 (final), and the number of home sales contracts pending closing sales (Pending Home Sales) in August. On Friday, the August Personal Consumption Expenditures (PCE) Price Index and September Consumer Sentiment Index will be released from the University of Michigan.
Source: InfoQuest News Agency
2023-09-26 01:41:22
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