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Economic News August 22, 2024

22 thg 8, 2024

U.S. Stock Market Situation on August 21

The U.S. stock market rose in yesterday's trading session after the conclusion of the Federal Reserve meeting, which further strengthened the likelihood of future interest rate cuts. Specifically, the S&P 500 Index increased by 0.42%, reaching 5,620.85 points. The Nasdaq Index rose by 0.57% to 17,918.99 points. The Dow Jones Index gained 0.14%, closing at 40,890.49 points.


U.S. Treasury Bonds Situation on August 21

The 10-year U.S. Treasury bond yield reversed course, increasing slightly to 3.805%.


Dollar Index Situation

The Dollar Index continued to decline, dropping by 0.3% to 101.14 points. Simultaneously, the U.S. dollar reached its lowest level against the euro and the British pound in over a year.


Gold Market Situation

The global gold price edged down, with spot gold decreasing by 2.2 USD to 2,512.5 USD per ounce. Gold futures last traded down by 1.5 USD from early yesterday, settling at 2,550 USD per ounce.


Commodity Market Situation

At the close of yesterday’s trading session, oil prices continued to drop by more than 1 USD as U.S. employment data was significantly revised downward, impacting oil demand. Specifically, Brent crude oil fell by 1.15 USD, or 1.49%, to 76.05 USD per barrel. WTI crude oil decreased by 1.24 USD, or 1.69%, to 71.93 USD per barrel.

Source: Multiple sources

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