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Economic News July 3, 2024

3 thg 7, 2024

U.S. Stock Market Situation

The U.S. stock market rose on Tuesday following remarks from Federal Reserve Chair Jerome Powell, who stated that the Fed had made progress in reducing inflation but was not yet ready to cut interest rates. At the close, the S&P 500 index increased by 0.62%, reaching 5,509.01 points, marking the first time it closed above 5,500 points. The Nasdaq index rose 0.84%, hitting 18,028.76 points, also a record high. The Dow Jones index gained 0.41%, ending the session at 39,331.85 points.


U.S. Treasury Bonds Situation

The yield on the 10-year U.S. Treasury bond declined to 4.428%.


Dollar Index Situation

The Dollar Index continued its downward trend, decreasing by 0.23% to 105.67 points.


Gold Situation

Gold prices were stable with spot gold falling by $2.4 to $2,330.2 per ounce. Gold futures last traded down $2.7 compared to early this morning, at $2,338.6 per ounce.


Commodity Markets Situation

At the end of the session on July 2, oil prices fell slightly as the latest weather forecasts indicated that Hurricane Beryl would not significantly impact oil extraction activities in the Gulf of Mexico as previously feared. Brent crude oil fell by 36 cents, or 0.42%, to $86.24 per barrel. WTI crude oil dropped by 57 cents, or 0.68%, to $82.81 per barrel.

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