Dow closes 43.17 points, SET focuses on next week’s CPI-Fed meeting : InfoQuest

The New York Dow Jones Stock Exchange closed slightly higher on Friday (June 9) as investors focused on the release of the US Consumer Price Index (CPI) next Tuesday. and a monetary policy decision by the Federal Reserve (Fed) next Wednesday.

  • The Dow Jones Industrial Average closed at 33,876.78 points, up 43.17 points, or +0.13%.

  • The S&P500 closed at 4,298.86, up 4.93 points, or +0.11%.

  • The Nasdaq Index closed at 13,259.14, up 20.62 points, or +0.16%.

in this week The Dow gained 0.33%, the S&P 500 gained 0.38% and the Nasdaq gained 0.13%, with the S&P 500 gaining for a fourth week in a row and the Nasdaq gaining a seventh in a row.

Six of the 11 stocks in the S&P 500 ended lower, with materials, energy and utilities down 0.82%, 0.58% and 0.58%, respectively, while technology and luxury shares gained 0.46% and 0.44% in that order.

The S&P500 and Nasdaq managed to reach new highs this year. This was driven by Tesla shares up 4.06% and their longest rally since January. 2021 after General Motors (GM) agreed to use Tesla’s supercharger network, with GM stock up 1.06%.

The S&P500 index has entered a new bull run. After rising 20% ​​from the lowest closing level on October 12, 2022

Huge stock rally, release of better than expected earnings from listed companies AND the expectation that the Fed is nearing the end of its rate hike cycle. helped boost the US stock market this year. Despite worries about recession and high inflation,

Technology stocks including Apple, Advanced Micro Devices (AMD) and India gained 0.22-3.20 percent after falling earlier this week.

The CMEGroup’s Fedwatch tool indicates that traders expect a 72% chance that the Fed will hold interest rates at the current range of 5-5.25% at its June 13-14 monetary policy meeting.

Investors will focus on the release of US CPI data next Tuesday (June 13), which will help guide the Fed’s monetary policy direction. Traders estimate there is a 50% chance the Fed will raise interest rates by another 0.25% in July.

for other stocks That rose on Friday, for example, Adobe shares rose 3.41% after Wells Fargo increased its investment weight. He said Adobe will benefit from the growing trend of generative AI technology.

Shares of Netflix Inc rose 2.60% after the report. netflix subscriptions increase After the company deals with code sharing

by InfoQuest News Agency (June 10, 2023)

Tags: Dow Jones , New York Stock Exchange


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