‘Dow Jones’ rises to 209.30 points, investors have more confidence ‘US economy’ is not shrinking – The Bangkok Insight

The New York Stock Exchange in the United States was trading this morning (August 7) ​​local time, with the “Dow Jones” rising 209.30 points amid relief from concerns about the US economic recession.

The Dow Jones industrial average was last at 39,206.96 points, an increase of 209.30 points or 0.54%, the S&P 500 index at 5,283.26 points, an increase of 43.23 points or 0.82% and the NASDAQ index at 16,515.01 points, an increase of 5,283.26 points, an increase of 43.23 points or 0.82% and the NASDAQ index at 16,515.01 points, an increase of 5.1 points or 1%.

Several officials from the Federal Reserve (Fed) have come out to give their views on the state of the economy. This helped ease investors’ concerns about the economic downturn.

Today’s business has also received positive features from the release of clear financial results from the Disney Company. which had higher-than-expected profits and revenue in the company’s fiscal third quarter led by the streaming business

The CBOE Volatility Index (VIX), which is a measure of investor anxiety in the US stock market. Continuing to fall It recently fell almost 20%, indicating that investors are returning to risk. After easing concerns about the economic downturn

Investors have more confidence After the US Institute for Supply Management (ISM) revealed that the US service sector index rose to 51.4 in July. It has recovered from the level of 48.8 in June. This is the lowest level in four years and exceeded analysts’ expectations of 51.0.

The Atlanta Fed also revealed that the latest GDPNow forecast model shows that the US economy grew 2.9% in 3Q2024 after expanding 1.4% in 1Q and 2.8% in 2Q24.

Investors will keep an eye on the Consumer Price Index (CPI) next week. Including the Fed’s annual meeting in Jackson Hole, Wyoming on August 22-24, to look for signs indicating the Fed’s interest rate guidance this year.

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