Growing confidence that the interest rate peak has been reached contributed to a second consecutive day of gains on Wall Street on Thursday. The Dow Jones Industrial Average rose slightly, the day after the index closed above 37,000 for the first time ever.
Investors received further positive news Thursday: retail sales rose 0.3 percent in November, according to the Commerce Department. Economists were expecting a decline of 0.1 per cent ahead of the report.
The ten-year government bond yield, also called the world’s most important interest rate, fell below 4 percent for the first time since August. Several investors are now expecting interest rate cuts in 2024, the day after the US central bank kept interest rates flat.
This is how the leading indices fared on Thursday:
The S&P 500 rose 0.27 percent to 4,719.66, while the technology index Nasdaq rose 0.19 percent to 14,761.56. Industry heavyweight Dow Jones rose 0.43 percent to 37,248.07. The VIX index, also called the fear index, rose 1.23 percent to 12.34.
Other movements
Facebook owner Meta, Amazon, Netflix, Apple and Alphabet (also known as the FAANG stocks), had a mixed day on the stock exchange on Tuesday:
- Meta rose 0.02 percent to $337.25.
- Amazon fell 0.95 percent to $147.42.
- Netflix fell 2.11 percent to $469.83.
- Apple rose 0.08 percent to $198.11.
- Alphabet fell 0.48 percent to $131.94.
Oil and crypto
Brent oil rose 3.07 percent to 77.17 dollars per barrels, while WTI oil rose 3.21 percent to 71.70 dollars per barrel.
At the close on Wall Street, Bitcoin is up 0.54 percent to $43,011.55 per coin, while Ethereum is up 1.83 percent to 2,294.87 dollars per coin.
2023-12-14 21:00:59
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