HoonSmart.com>> The Dow Jones Industrial Average closed at 37,305.16 points, up 56.81 points, supported by the Fed’s promise to cut interest rates. Crude oil prices fell 15 cents, or 0.21%, to close at $71.43 per barrel.
The Dow Jones Industrial Average (DJIA) closed on December 15, 2023 at 37,305.16 points, up 56.81 points or 0.15% after volatile trading that set a new intraday record. Because the signal to cut interest rates in 2024 from the US Federal Reserve (Fed) is still supporting the market.
The S&P500 Index closed at 4,719.19 points, down 0.36 points, -0.001%.
The Nasdaq index closed at 14,813.92 points, up 52.36 points, +0.35%.
In this week The Dow added 2.9%, the S&P 500 rose 2.5% and the Nasdaq rose 2.8%. All three major indexes rose for the seventh week in a row, with the S&P 500’s longest consecutive seventh week of gains. Since 2017, price movements can be unusually high due to the simultaneous expiration of futures contracts, stock indices and options, as well as individual stock options. in a quarter known as the “triple Witching.” But comments on Friday by New York Fed President John Williams said it was too early to talk about rate cuts. And the Fed is still aiming to bring inflation down within the 2% range, which has dampened some of the positive views.
Moreover, the interest rate-sensitive real estate and utilities sectors were down more than 1% after rising this week.
Costco shares rose 4.5% after hitting an all-time intraday high after reporting higher-than-expected first-quarter results. and declared a dividend of $15 per share.
The market rose this week. After the Fed said there would be three rate cuts in 2024, boosting investor confidence, yesterday’s trading volume reached 19.76 billion shares, compared with the 20-day average of 11.8 billion shares. made the past The market was also supported by reports of improved domestic business activity survey results in December. Amid increasing orders and labor demand This may help ease concerns about a sharp economic slowdown in the fourth quarter.
S&P Global reports that the Preliminary Purchasing Managers’ Index (PMI) of manufacturing and services in December increased to 51.0, the highest in five months, from 50.7 in November, but the Preliminary Manufacturing PMI dropped to 51.0. 48.2 lowest in 4 months from 49.4 in November.
European stock markets close positive Because we are still responding to the US Federal Reserve (Fed) sending a signal about starting to reduce interest rates next year. Although the rally weakened after the European Central Bank (ECB) adopted a more stringent monetary policy tone compared to the Fed.
ECB President Christine Lagarde quashed expectations of a quick shift towards an easing monetary policy after the ECB decided to keep interest rates on hold on Thursday.
Investors are still worried about the economic situation. After reporting data from many countries In November, French inflation fell 0.2% month-on-month and rose 3.5% year-on-year. And data shows that private sector activity in France and Germany deteriorated from the previous month. As a result, the full year contracted even deeper due to low demand for goods and services.
Preliminary December PMI index for manufacturing and service sectors. The Eurozone index fell to 47.0 from 47.6 last month, while economists expected it to increase to 48.0. The manufacturing PMI remained at a six-month high of 44.2, but below expectations, while the services PMI dropped. Down more than expected, remaining at 48.1.
Germany’s central bank (Bundesbank) cuts its economic growth forecast. It expects economic activity to recover slightly after contraction in 2023. Calendar-adjusted real gross domestic product will increase just 0.4% in 2024 after falling 0.1% this year, falling from 0.1% this year. The previous forecast in June was for 1.2% expansion next year.
Shares of H&M, the world’s second-biggest fashion company, fell 0.4% after reporting September-November local currency sales fell 4%, the biggest drop since the third quarter of 2022.
The STOXX 600 Index closed at 476.61 points, up 0.04 points or +0.01% and rose for the fifth consecutive week, the longest since April.
The FTSE 100 London Stock Exchange Index closed at 7,576.36 points, down 72.62 points, -0.95%.
The French stock market CAC-40 index closed at 7,596.91 points, up 21.06 points, +0.28%.
The German stock market DAX index closed at 16,751.44 points, down 0.79 points, -0.005%.
WTI crude oil for January delivery fell 15 cents, or 0.21%, to close at $71.43 per barrel. Meanwhile, the price of North Sea Brent crude oil for February delivery fell 6 cents, or 0.08%, to close at $76.55 per barrel.
2023-12-16 03:10:33
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