The New York Stock Exchange rose on the back of falling Treasury yields and purchase lows.
At 10:19 am on the New York Stock Exchange (NYSE) on the 17th (Eastern time), the Dow Jones Industrial Average recorded 30,242.80, up 607.97 points (2.05%) from the previous field.
The Standard & Poor’s (S&P) 500 index jumped 102.65 points (2.86%) to 3,685.72 and the Nasdaq index, which focuses on technology stocks, jumped 350.07 points (3.39%). ) to 10,671.46, up from the battlefield.
Investors paid attention to falling US Treasury yields and the stability of the UK financial market.
As the US Treasury yield fell along with the UK Treasury yield following news from the UK, stock market anxiety eased slightly.
The 10-year US Treasury yield fell below 4%, trading at 3.943%, down 8 basis points from the previous day.
The yield on the two-year, monetary policy sensitive bond fell 8 basis points to 4.430%.
As the UK government pulled out most of its tax cuts on September 23, British government bond yields plummeted and the pound rose.
Meanwhile, the turmoil in the UK financial market has been cited as an example of financial market instability caused by the aggressive tightening of central banks in each country, thus fueling market instability.
Company earnings in Q3 were better than expected, helping to drive up share prices.
Bank of America’s share price rose more than 6% after announcing better-than-expected net income and operating income on an increase in interest and bond income.
Bank of New York Mellon also posted better-than-expected earnings, so its shares were up more than 6%.
Earnings from companies like Netflix, Tesla, IBM, Johnson & Johnson, United Airlines, AT&T, Verizon and P&G are released this week.
Economic indicators were weak.
The Empire State Manufacturing Index, which shows the New York State manufacturing economy, recorded minus 9.1 in October, down 7.6 points from the previous month.
This is the third consecutive month of negative territory, suggesting that the economy is in a downturn.
Mark Zandi, economist at Moody’s Analytics, expects inflation to halve in six months.
He also predicted that the Fed will stop raising interest rates this winter to 4.5% or 4.75% and look to the economy.
Investment firm Oppenheimer reduced its year-end forecast for the S&P 500 to 4,000 from 4,800.
The new target is 12% higher than Friday’s closing price.
New York stock market experts said a rebound could be imminent.
Mark Hackett, chief analyst at Nationwide, told CNBC: “The market has attempted several rebounds in the past few weeks, all of which have failed.” It’s crazy that this is imminent, “he said.
He said institutional investors are on hold, but individual investors have seen net inflows for the seventh consecutive week and are buying at low prices.
European stocks rose all at once.
The German DAX index rose 2.09%, while the UK FTSE index rose 1.29%.
The French CAC index rose 2.09%.
The pan-European STOXX600 index is up 2.06%.
International oil prices have risen.
The West Texas Intermediate (WTI) price for the November contract increased 1.37% to $ 86.75 a barrel and the Brent price for the December contract increased 1.33% to $ 92 , 85 per barrel.
/ yunhap news
