Stock Market Update: June 27, 2023
Dow Jones Closes Higher on Strong US Economic Data
The New York Dow Jones Stock Exchange saw a positive day on Tuesday, June 27, as the release of robust US economic data eased investor concerns about a potential recession caused by the Federal Reserve’s aggressive interest rate hikes. The Dow Jones Industrial Average closed at 33,926.74 points, marking a 0.63% increase of 212.03 points. The S&P 500 Index also experienced gains, closing at 4,378.41 points, up 1.15% or 49.59 points, while the Nasdaq Index closed at 16,555.50 points, indicating a 1.65% increase of 219.89 points.
European Markets Rise Amidst Stimulus Expectations
European stock markets closed higher on Tuesday, June 27, driven by financial and luxury stocks. Investors were optimistic about China’s ongoing efforts to stimulate its economy. However, market gains were limited due to tough policy comments made by European Central Bank (ECB) President Christine Lagarde. The STOXX 600 Index closed at 452.90 points, up 0.05% or 0.22 points. France’s CAC-40 stock market index closed at 7,215.58 points, up 0.43% or 31.23 points, the German DAX stock market index closed at 15,846.86 points, up 0.21% or 33.80 points, and London’s FTSE 100 stock market index closed at 7,461.46 points, registering a 0.11% increase or 7.88 points.
London Stock Market Rises on China’s Economic Growth
The London stock market enjoyed gains on Tuesday, June 27, with Chinese-linked stocks experiencing an upward trend. China’s second-quarter economic growth revealed positive signs, though a slump in oil and healthcare stocks hampered the overall market gains. The London Stock Exchange FTSE 100 closed at 7,461.46 points, up 0.11% or 7.88 points.
Oil Prices Drop Amidst Central Banks’ Interest Rate Hikes
New York West Texas Intermediate (WTI) crude futures closed more than 2% lower on Tuesday, June 27, following indications that central banks are increasing interest rates in an effort to control inflation. This development raised concerns among investors about the impact on both the economy and oil demand. The WTI crude oil contract for August delivery was down $1.67, or 2.41%, settling at $67.70 per barrel. Similarly, the Brent crude oil contract for August delivery experienced a decline of $1.92, or 2.59%, closing at $72.26 per barrel.
Gold Futures Decrease as US Bond Yields Rise
New York gold futures faced downward pressure on Tuesday, June 27, as US bond yields climbed higher. Furthermore, worries regarding central banks worldwide continuing to raise interest rates to combat inflation further dampened the market. The COMEX gold contract for August delivery dropped $10, or 0.52%, to conclude at $1,923.80 per ounce. Meanwhile, silver metal contracts for July delivery saw a modest increase, rising 13.40 cents, or 0.59%, ending at $22.96 per ounce. Platinum contracts for July delivery experienced a slight uptick of $1.10, or 0.12%, settling at $934 per ounce. In contrast, the palladium contract for September delivery dropped $8.60, or 0.70%, to reach $1,294.10 per ounce.
Euro Strengthens Against US Dollar, Dollar Index Falls
In trading on Tuesday, June 27, the euro gained strength against the US dollar on the New York Foreign Exchange Market. European Central Bank (ECB) President Christine Lagarde’s endorsement of continued interest rate hikes, citing high inflation, contributed to the euro’s rise. Consequently, the dollar index, which measures the greenback against a basket of major currencies, fell 0.20% to 102.4918. The euro traded higher against the dollar at $1.0960, marking an increase from $1.0915, while the pound also experienced gains, reaching $1.2751, up from $1.2721. The US dollar weakened against the Swiss franc, trading at 0.8931 francs compared to 0.8949 francs, and against the Swedish krona at 10.7178 krona instead of 10.7211 krona. However, the dollar strengthened against the Canadian dollar, trading at 1.3182 CAD compared to 1.3145 CAD, and against the yen at 144.0130 yen from 143.4470 yen.
Market Closing Index Highlights
The New York Stock Exchange saw the DJIA close at 33,926.74 points, up 0.63% or 212.03 points. The S&P500 closed at 4,378.41 points, an increase of 1.15% or 49.59 points. The Nasdaq closed at 13,555.67 points, up 1.65% or 219.89 points. Meanwhile, the London Stock Exchange FTSE 100 closed at 7,461.46 points, registering a gain of 0.11% or 7.88 points. Additionally, the French CAC-40 stock market index closed at 7,215.58 points, up 0.43% or 31.23 points, and the German DAX stock market index closed at 15,846.86 points, showing an increase of 0.21% or 33.80 points.
Other Global Market Closures
– Australia’s S&P/ASX 200 Index closed at 7,118.20 points, up 0.56% or 39.50 points. The ALL COMMON index of the Australian stock market closed at 7,300.00 points, an increase of 0.49% or 35.90 points.
– The Japanese stock market index NIKKEI 225 closed at 32,538.33 points, down 0.49% or 160.48 points.
– The KOSPI index of the South Korean stock market closed at 2,581.39 points, down 0.031% or 0.81 points.
– The Taiwan TAIEX stock market index closed at 16,887.90 points, marking a 1.00% decrease or 171.34 points.
– The SSE Composite index of the Chinese stock market closed at 3,189.44 points, up 1.23% or 38.82 points.
– The HSI index of the Hong Kong stock market closed at 19,148.13 points, indicating a gain of 1.88% or 354.00 points.
– The SENSEX index of the Indian stock market closed at 63,416.03 points, up 0.71% or 446.03 points.
– Indonesia’s Jakarta Composite Index closed at 6,661.88 points, down 0.04% or 2.79 points.
– The Philippine Stock Exchange PSE Composite Index closed at 6,502.85 points, down 0.31% or 20.24 points.
– Malaysia’s FMKLCI stock market index closed at 1,386.74 points, showing a decrease of 0.23% or 3.14 points.
– The FTSE STI Stock Exchange of Singapore closed at 3,205.35 points, up 0.49% or 15.67 points.
Stock market indices and conditions, oil, gold and foreign exchange markets on 27 June 2023.
– The New York Dow Jones Stock Exchange closed up more than 200 points on Tuesday (June 27) after the United States released strong economic data. This helped ease investor concerns about a recession caused by an aggressive increase in interest rates by the Federal Reserve (Fed).
The Dow Jones Industrial Average closed at 33,926.74 points, an increase of 212.03 points, or +0.63%, the S&P 500 Index closed at 4,378.41, an increase of 49.59 points, or +1.15%, and the Nasdaq Index closed at 16,555.5 and . of 219.89 points, or +1.65%.
– European stock markets closed higher on Tuesday (June 27), supported by financial and luxury stocks. Because investors expect China will continue to stimulate the economy. But tough policy comments from European Central Bank (ECB) President Christine Lagarde have limited the market’s rally.
The STOXX 600 Index closed at 452.90 points, up 0.22 points, or +0.05%.
France’s CAC-40 stock market index closed at 7,215.58 points, up 31.23 points or +0.43%, Germany’s DAX stock market index closed at 15,846.86 points, up 33.80 points or +0.21% and London’s FTSE 100 stock market index closed at 7,461.46 points, an increase of 7.88 points or +0.11%
– The London stock market closed higher on Tuesday (June 27) as Chinese-linked stocks rose. After China revealed that Economic growth is picking up in the second quarter, but a fall in oil and healthcare stocks is limiting the market’s gains.
The London Stock Exchange FTSE 100 closed at 7,461.46 points, up 7.88 points, or +0.11%.
— New York West Texas Intermediate (WTI) crude futures ended more than 2% lower on Tuesday (June 27) after signs that central banks are continuing to raise interest rates to curb inflation This has investors worried about the effect it will have on the economy and the demand for oil.
The WTI crude oil contract will be introduced in August. down $ 1.67, or 2.41%, to $ 67.70 / barrel.
The Brent crude oil contract (BRENT) was executed in August. It was down $1.92, or 2.59%, at $72.26/barrel.
– New York gold futures closed lower on Tuesday (June 27), with the market under pressure from a rise in US bond yields. and concerns that central banks around the world will continue to raise interest rates to curb inflation.
The COMEX (Commodity Exchange) gold contract is introduced in August. down $10, or 0.52%, to close at $1,923.80/oz
Silver metal contracts executed in July. rose 13.40 cents, or 0.59%, to close at $22.96/ounce.
The platinum contract was achieved in July. up $1.10, or 0.12%, to close at $934/oz.
The palladium contract will be delivered in September. It was down $8.60, or 0.7%, at $1,294.10/ounce.
– The euro strengthened against the US dollar. Trading on the New York Foreign Exchange Market on Tuesday (June 27) after European Central Bank (ECB) President Christine Lagarde signed off on continuing to raise interest rates. because inflation remains high
The dollar index, which measures the greenback against a basket of six major currencies, was down 0.20 percent at 102.4918.
The euro was higher against the dollar at $1.0960 from $1.0915, while the pound was higher at $1.2751 from $1.2721.
The US dollar weakened against the Swiss franc at 0.8931 francs from 0.8949 francs and against the Swedish krona at 10.7178 from 10.7211 krona. But the dollar was higher against the Canadian dollar at 1.3182 CAD from 1.3145 CAD. And is valued against the yen at 144.0130 yen from 143.4470 yen.
The DJIA New York Stock Exchange index closed at 33,926.74 points, up 212.03 points, +0.63%.
The New York Stock Exchange S&P500 closed at 4,378.41 points, up 49.59 points, +1.15%.
The New York Stock Exchange NASDAQ closed at 13,555.67 points, up 219.89 points, +1.65%.
The London Stock Exchange FTSE 100 closed at 7,461.46 points, up 7.88 points, +0.11%.
The French CAC-40 stock market index closed at 7,215.58 points, up 31.23 points, +0.43%.
The German DAX stock market index closed at 15,846.86 points, up 33.80 points, +0.21%.
Australia’s S&P/ASX 200 Index closed at 7,118.20 points, up 39.50 points, +0.56%.
The ALL COMMON index of the Australian stock market closed at 7,300.00 points, up 35.90 points, +0.49%.
The Japanese stock market index NIKKEI 225 closed at 32,538.33 points, down 160.48 points, -0.49%.
The KOSPI index of the South Korean stock market closed at 2,581.39 points, down 0.81 points, -0.031%.
The Taiwan TAIEX stock market index closed at 16,887.90 points, down 171.34 points, -1.00%.
The SSE Composite index of the Chinese stock market closed at 3,189.44 +38.82 points, +1.23%.
The HSI index of the Hong Kong stock market closed at 19,148.13 points, up 354.00 points, +1.88%.
The SENSEX index of the Indian stock market closed at 63,416.03 points, up 446.03 points, +0.71%.
Indonesia’s Jakarta Composite Index closed at 6,661.88 points, down 2.79 points, -0.04%.
The Philippine Stock Exchange PSE Composite Index closed at 6,502.85 points, down 20.24 points, -0.31%.
Malaysia’s FMKLCI stock market index closed at 1,386.74 points, down 3.14 points, -0.23%.
The FTSE STI Stock Exchange of Singapore closed at 3,205.35 points, up 15.67 points, +0.49%.
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