Dow Jones industrial average futures jumped more than 400 points, indicating that Wall Street stocks will continue their gains from yesterday.
At 5:36 pm Thai time, the Dow futures index gained 449 points or 1.52% to 29,987 points.
The Dow jumped more than 700 points yesterday as investors eased concerns about faster interest rate hikes by the Federal Reserve after the US released weak economic data.
Today’s trading is expected to continue to be supported by the depreciation of the dollar. After investors worried earlier that the appreciation of the dollar will affect the profits of listed companies with foreign income.
In addition, the market also received positive factors from the decline in US government bond yields. The 10-year US Treasury Bond is a reference to the price of corporate bonds around the world. This includes the US mortgage interest rate. If the yield of government bonds rose it would make consumers have less money to spend while the cost of paying the mortgage loan increases AND companies will face higher costs of paying debts. causing the company to reduce investment and reduce dividend payments to investors
At the same time, investors lowered their expectations that the Fed will raise interest rates 0.75% at its monetary policy meeting in November. after releasing weak economic numbers
The CME Group’s FedWatch Tool indicates that investors weigh 58.5% that the Fed will raise interest rates by 0.75% to 3.75-4.00% at its November 1-2 meeting, after previously weighing it up to 68.1%
Investors also raised their weighting to 41.5% on expectations that the Fed would raise interest rates by 0.50% at the meeting.
Investors are easing concerns about faster Fed interest rate hikes. After the US revealed, the manufacturing index was the lowest in more than two years.
The Institute for Supply Management (ISM) said its manufacturing index fell to 50.9 in September, the lowest level in more than two years since May 2020. It was below analysts’ forecast of 52.3 from 52.8 in August.
The manufacturing index was hit by a contraction in new orders. This was the third contraction this year, while employment contracted for the fourth time.
By InfoQuest News Agency (04 Oct 65)
Tags: dowjones , dow jones futures , new york stock market , wall street stock market , us stock market
