Stock prices in the United States and Europe rose on Wednesday, August 26, as investors ignored concerns about Hurricane Lora’s approach to the U.S. oil field in the Gulf of Mexico and new concerns about COVID-19.
Oil prices continued to rise, driven by the closure of many US oil fields in the Gulf of Mexico due to Hurricane Lora.
Wall Street Index Nasdaq Composite reached a new record for the fifth consecutive trading session, while the index Standard & Poor’s 500 rose to a new record for the fourth consecutive session.
Apple the share price increased by 1.4%, but Salesforce.com the share price rose 26% after a good earnings report.
Market participants waited on Thursday when Jerome Powell, head of the US Federal Reserve System (FRS), will talk about possible changes in interest rates in the coming months.
“Part of the rise in the stock market can be explained by expectations of this speech,” he said TD Ameritrade analītiķis Dž.Dž.Kinahans (JJ Kinahan).
The rise in stock prices on European stock exchanges was small, partly due to concerns about the continued presence of COVID-19.
US Stock Exchange Index Dow Jones Industrial Average on Wednesday rose 0.3% to 28,331.92 points, the index Standard & Poor’s 500 rose 1.0% to 3478.73 points, while the index Nasdaq Composite increased by 1.7% to 11,665.06 points.
The London Stock Exchange index FTSE 100 rose 0.1% to 6045.60 points on Wednesday, the Frankfurt stock exchange index DAX 30 rose 1.0% to 13,190.15 points, while the Paris stock exchange index CAC 40 rose 0.8% to 5048 .43 points.
In the electronic trading of the New York Stock Exchange, the price of WTI crude oil increased by 0.1% on August 26 to USD 43.41 per barrel. The price of Brent crude oil fell 0.2% to $ 45.78 a barrel on the London Stock Exchange.
The euro rose against the US dollar from 1.1835 to 1.1831 dollars per euro on Wednesday, the British pound against the US dollar rose from 1.3152 to 1.3203 dollars per pound, and the US dollar against the Japanese yen fell from 106.39 to 105.97 yen per dollar. The euro fell against the pound sterling from 89.99 to 89.54 pence per euro.
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