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Economic News September 17, 2024

17 thg 9, 2024

U.S. Stock Market Situation on September 16

The U.S. stock market rose sharply on Monday, with the S&P 500 and Dow Jones benefiting from the prospect of lower interest rates, as investors awaited the Federal Reserve's first rate cut in four years. The S&P 500 increased by 0.13%, reaching 5,633.09 points. The Nasdaq fell by 0.52%, closing at 17,592.13 points. The Dow Jones ended the session at a record high, up 0.55% to 41,622.08 points.

 

U.S. Treasury Bonds on September 16

The yield on the U.S. 10-year Treasury bond continued its decline, falling to 3.624%.

 

Dollar Index Situation

The Dollar Index dropped by 0.41% to 100.71 points, driven by heightened market expectations that the Federal Reserve might implement a significant rate cut later this week.

 

Gold Market Situation

Global gold prices increased today, with spot gold rising by $7.5 to $2,583 per ounce. Gold futures last traded up by $3.8 compared to early morning, reaching $2,610 per ounce.

 

Commodity Trading Market Developments

Oil prices rose by about 2% on Monday, as the impact of Hurricane Francine on production in the U.S. Gulf of Mexico outweighed ongoing concerns about China's demand. Specifically, Brent crude oil prices increased by $1.14, or 1.59%, to $72.75 per barrel. WTI oil prices rose by $1.4, or 2.1%, to $70.09 per barrel.


Source: Multiple sources

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