The Dow Jones index rose 201.36 points, or 0.47 percent, to 43,065.22 points. The broad Standard & Poor’s 500 index rose 44.82 points, or 0.77 percent, to 4,859.85. The Nasdaq technology market index increased 159.75 points, or 0.87 percent, to 18,502.69 points.
The upcoming financial results from US companies will help investors assess the state of the US economy and whether company valuations on the stock market are too high. Statistical data will then reveal how much the US central bank (Fed) will reduce interest rates by the end of this year.
The growth on Monday was mainly helped by chip manufacturers led by Nvidia. Shares of Apple and Microsoft also strengthened. But the Dow Jones index’s gains were capped by a fall in Caterpillar shares after they broke down and shares of aircraft maker Boeing, which said on Friday it expected a higher third-quarter loss. Energy companies were also weakened by lower oil prices.
Boeing has announced massive layoffs around the world
Economic
“There is still belief that the economy is moving forward, albeit slowly, and hope that the results of the third quarter will be good and likely better than expected,” said Dakota Wealth Management analyst Robert Pavlik.
The S&P 500 and the Dow Jones closed at the highest level on Friday due to the favorable financial results of the banks. These raised hopes that earnings in the third quarter could be strong, and that stocks could continue to perform strongly. This week, 41 companies from the S&P 500 index should publish their financial results.
Investors will continue to monitor important statistical data. In particular, it is data on retail sales in September that will show how it looks with the financial health of American consumers, wrote Reuters.
The US dollar strengthened on Monday. So he continued the growth that has lasted for several weeks, which was encouraged by statistical data. These supported expectations that the Fed would continue to cut interest rates, but at a slower pace.
In addition, Minneapolis Fed President Neel Kashkari said on Monday that it is likely at this point that the Fed will continue to cut the key interest rate slightly in the coming quarters to keep unemployment and inflation at bay. keep it low.
The dollar index, which tracks the dollar’s performance against a basket of six major world currencies, rose 0.3 percent to 103.23 points. The euro fell 0.3 percent to $1.0909 against the dollar. The dollar rose 0.5 percent to 149.76 yen against the yen. The euro gained 0.1 percent against the yen to JPY 163.30.
Wall Street limits the working hours of junior bankers to “just” 80 hours a week
Economic
2024-10-14 20:29:00
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