© Reuters.
Investing.com – The Dow Jones Industrial Average hit a 2023 high on Thursday, as Salesforce jumped on upbeat earnings expectations and a new report provided further evidence of declining US inflation.
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Salesforce (NYSE:) stock jumped 8.5% as the cloud software company raised its forecasts.
While the Dow rose to 35,725 points, surpassing the intraday high of 35,679 set in August, all three major indexes were on track to have their strongest November since 2020.
The S&P 500 and Nasdaq are also poised for their biggest monthly gains since July 2022, amid signs of easing inflation pressures.
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The annual index recorded 3.5%, which is what experts expected, while it recorded 3.7% in the previous reading.
The monthly index recorded 0.2%, which is what experts expected, and the previous reading was 0.3%.
As for the main index on an annual basis, it recorded 3%, which is what experts expected, and it had recorded 3.4% in the last reading.
On a basis, it was stable at 0%, and expectations were at 0.1%, while the previous reading recorded 0.4%.
Among the 11 major sectors in the S&P 500, the energy index (SPNY) rose 1.8% and was the biggest gainer, tracking higher crude oil prices ahead of the results of the OPEC+ meeting.
But most major stocks fell, with Tesla (NASDAQ:) stock falling 1.4%, keeping the S&P 500 and Nasdaq under pressure. The impact of the rise in US yields, which makes stock returns less attractive, on stocks.
While Lucid Motors (NASDAQ:) shares decline by 2%.
Mixed messages from Federal Reserve officials have kept markets on edge in recent days.
Both San Francisco Fed President Mary Daly and Bank of New York President John Williams kept the door open for further monetary tightening on Thursday.
Markets also took stock of weekly jobless claims, which showed initial claims for state unemployment benefits rising by 7,000 to a seasonally adjusted level of 218,000 for the week ending November 25, indicating a weak labor market.
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Wall Street indices at 19:10 local time
It rises by 0.92%, to 35,755 points
While it settled at 4,549 points.
It fell by 0.6%, to 14,175 points.
Markets at 19:10 Saudi time
It fell by 0.45% to $2,038 per ounce.
While it fell by 0.35% to the level of $2,037 per ounce.
On the other hand, it rises by 0.52% to 103.2 points.
However, it turned lower during these moments of today’s trading with anticipation of the release of the results of the OPEC+ meeting, declining by 1.8% to $81.4 per barrel.
Meanwhile, Texas crude fell by 1.8% to $76.5 per barrel.
2023-11-30 16:19:00
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