[뉴욕=뉴스핌] Correspondent Kim Min-jeong = In the New York Stock Exchange, major indices all closed higher on the 1st (local time). Employment indicators that fell far short of expectations raised expectations of an interest rate cut by the Federal Reserve (Fed). Investors are focusing on the results of the US presidential election next week.
On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 42,052.19, up 288.73 points (0.69%) from the previous day, and the Standard & Poor’s (S&P) 500 index, which focuses on large-cap stocks, closed at 5,728.80, up 23.35 points (0.41%). recorded. The NASDAQ composite index, centered on technology stocks, advanced 144.77 points (0.80%) to 18,239.92.
On a weekly basis, the Dow index closed down 0.16%, the S&P 500 index closed down 1.38%, and the Nasdaq index closed down 1.51%.
The October employment indicator that investors paid attention to fell far short of expectations. The U.S. Department of Labor reported that there were 12,000 new jobs last month. This figure is below the market forecast of 100,000 cases.
Market participants predict that the Federal Reserve will lower the benchmark interest rate by 0.25 percentage points (%p) at the Federal Open Market Committee (FOMC) regular meeting on the 6th and 7th.
“Friday’s employment report showed that the labor market slowed significantly in October compared to September,” said Clark Bellin, president and chief investment officer at Bellwether Wealth. Therefore, it is unlikely that this weakness will cause the Federal Reserve to change the expected 25bp (1bp = 0.01 percentage point (%p)) interest rate cut at the November meeting,” he explained.
Market participants are also paying attention to the results of the US presidential election on the 5th. According to various opinion polls, Democratic Vice President Kamala Harris and Republican former President Donald Trump are in a very close race.
By stock, it soared 6.19% due to better-than-expected performance. Supermicro Computer’s stock price plunged 10.51% on this day as the negative news of Ernst & Young (EY)’s resignation as auditor continued.
Treasury yields soared. As of 3 p.m. in the New York bond market, the interest rate on 10-year maturity U.S. Treasury bonds stood at 4.361%, up 7.9bp (1bp = 0.01 percentage point (%p)) from the previous day. The 2-year interest rate, which is sensitive to policy interest rates, rose 3.9bp to 4.201%. Bond interest rates move inversely to prices.
The US dollar rose. The dollar index, which shows the value of the dollar against six major currencies, rose 0.32% from the previous day to 104.31. The euro/dollar exchange rate was 0.45% lower at 1.0836 dollars, and the dollar/yen exchange rate was 0.63% higher at 153.00 yen.
International oil prices closed higher. On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude oil for December delivery rose 23 cents (0.3%) from the previous day to $69.49 per barrel. The January Brent crude contract on the ICE Futures Exchange rose 29 cents (0.4%) to $73.10.
Gold prices fell due to the strength of the US dollar. Gold futures on the New York Mercantile Exchange (COMEX) recorded $2,749.20, similar to the previous day. Spot gold recorded $2,736.28 per troy ounce, 0.2% lower than the previous price.
The Chicago Board Options Exchange (CBOE) Volatility Index (VIX), called ‘Wall Street’s fear index’, recorded 21.88, down 5.53% from the previous day.
mj72284@newspim.com
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[뉴욕 코인시황/마감] After the announcement of the U.S. employment index, the intraday downward trend continued… Expected impact of Federal Reserve interest rate cut
