NEW YORK (awp international) – The US stock markets picked up on Friday’s record price at the start of the new week. However, fresh US economic data provided a slight damper. Sales of new houses in June fell by 6.6 percent, for the third time in a row. Analysts had expected an increase of 3.5 percent.
The Dow Jones Industrial initially climbed another high at 35,116 points and was most recently 0.09 percent higher at 35 091.80 points. The S&P 500 also rose to another high and recently gained 0.09 percent to 4415.58 points. The Nasdaq 100 also hit a record high. Most recently, the technology-heavy market barometer rose by 0.03 percent to 15,115.66 points.
The new stock exchange week will be determined by the announcement of the quarterly figures of large US technology and Internet companies such as Apple, Microsoft and Alphabet. Investors are also eagerly awaiting the business figures from Tesla, which the electric car manufacturer will present this Monday after the market closes.
“We are entering a very eventful week with big tech wins and a Fed meeting,” said market expert Chris Zaccarelli of the Independent Advisor Alliance. The market showed last week how resilient it is. But now he expects more caution from investors, as all eyes and ears are on the US Federal Reserve.
From an industry perspective, oil stocks were at the top of investor favor. The chevron papers advanced 1.7 percent. ExxonMobil and ConocoPhillips stocks rose 1.9 percent and 2.0 percent, respectively.
Aon shares climbed 9.3 percent after the insurance broker rejected the proposed merger with Willis Towers Watson to end litigation with the US Department of Justice (DOJ). Aon announced the planned $ 30 billion acquisition of Willis Towers Watson in March 2020. The DoJ had filed a civil antitrust lawsuit to block the deal as the acquisition would create a brokerage giant and eliminate competition between two of the world’s top three insurance brokers. / Edh / he
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