U.S. Stock Indexes Rise as Investors Await Catalyst After Recent Gains

Investing.com – U.S. stock indexes rose during these trading moments on Thursday, as investors were waiting for a stronger catalyst after digesting recent gains.

It rose 33 points, or 0.1%. The 500 index rose by 0.09%, while it rose by 0.35%.

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Shares of GameStop (NYSE:) fell nearly 19% after the video game retailer announced it was firing CEO Matthew Furlong, replacing him with Ryan Cohen.

Lucid Motors (NASDAQ:) shares rose 1.5% to $6.50.

The S & P 500 index is emerging from a bearish session after it approached the 4,300 point level. The broader market index also hit its highest level since late August this week, rising as much as 2.2% this month so far. While the index rose by 7% over the past three months.

Meanwhile, the stocks of big technology companies continue their weak performance since the previous trading session. Shares of “Microsoft Group (NASDAQ:)” and “Alphabet (Google) (NASDAQ:)” fell 2.7% and 3.3%, respectively. Semiconductor giant NVIDIA Group (NASDAQ:) lost an additional 1.1%, while Amazon.com (NASDAQ:) dropped 3.1%.

In fact, it seems that investors are waiting for the next Federal Reserve policy meeting on June 13th and 14th. Economic evidence suggests that inflation is slowly declining, even as it remains above the central bank’s target of 2%.

New weekly jobless claims data just released showed that initial jobless claims reached their highest level since October 2021, indicating that the labor market is getting weaker. The rally also raised expectations that the Federal Reserve will pause its rate hike campaign at its meeting next week.

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It recorded 261,000 applications, higher than the forecast of experts, who expected 235,000. Especially since it recorded 232 thousand the week before last, but this reading has been revised to record now 233 thousand.

Markets are pricing in a 76% chance that the Fed will keep rates unchanged at the next meeting scheduled for next week.

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It rose by 1.2% to 1981 dollars an ounce.

While spot contracts rose by 1.36% to $1,966 an ounce, with gains of more than $25.

On the other hand, it decreased by 0.6% to 103,435 points.

It fell 0.5% to $76.56 a barrel.

Texas crude fell 0.66% to $72.06 a barrel.

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2023-06-08 14:46:00
#Urgent #Gold #gains #dollar #falling #strongly..and #stocks #waiting #stimulus #Investing.com

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