Tuesday , August 9 2022

Dow Jones celebrated his best day for over two weeks :: Investor.bg


Dow Jones scored his best day for two weeks

Photo: Reuters

US markets started the week with strong growth against the background of the stock appreciation of some troubled tech companies after a sharp drop last week, CNBC reports.

Blue chip index Dow Jones Added 354 points to its value and reached a level of 24,640.24 points, marking its strongest growth for two weeks. Wide measurement S & P 500 Advanced by 1.55% to a level of 2673.45 points. The technological index The Nasdaq Also finished in green territory with growth of 2.06% to a level of 7081.85 points.

Book Facebook, Amazon, Apple, Netflix And Google's parent company, alphabet, Increased by at least 1%.
Last week, Facebook's stock price fell against criticism of how the company controlled the use of its platform by Russian officials in their bid to influence the US presidential election Apple fell last week as investors were concerned about the slowdown in iPhone sales

"It's part of a bottom-up process, and it will take some time before we get out of it," says Bruce McCain, chief investment strategist at the private bank. "But as the economy grows and profits continue to grow, we have a chance of reaching new heights" between the first and second quarters of 2019, he adds. "It will be a disturbing time, there is much to worry about, but as long as the economy remains strong, we have to be fine," McCain said.

The traffic index on Monday comes as they mark their worst week on Thanksgiving in 2011, as sell out of technology stocks and oil prices have put traders at risk averse. Only on Friday the price of oil fell by about 8%.

Book General Motors Rose 4% after the company Announced plans to cut production In several plants and to reduce the number of employees by 15%. The spending plan is more drastic than investor expectations.

Retail retail prices rose with $ 6.22 billion in black Friday sales. Record sales rose 23.6% over last year. SPRR S & P Retail ETF (XRT) rose 2% thanks to the growth of Game, Amazon and L brands.

Investors are also looking forward to a statement by Federal Reserve Chairman Romm Powell later this week that he must speak with the New York Economic Club on Wednesday, and investors have been concerned about the future of monetary policy at a time when the central bank is about to consolidate its approach The Fed is expected to raise interest rates in December after tightening monetary policy three times earlier this year and next year the central bank should raise interest rates three times.

Investors will also continue this week's policy, with dominant issues being the G20 summit in Argentina and Brexit. The summit of the world's most powerful economic leaders summons US President Donald Trump and his Chinese counterpart, Chen Ping-Pin, at a time of intense trade pressure between the two countries. Britain received EU support For withdrawal from the block.

In the bond markets, the yield on bonds is approx 10-year US government securities Increased to 3,068% 30-year bonds Rose to 3.321%.

In foreign currency markets The dollar index, Which measures the value of the US dollar against a basket of six major currencies, rose 0.17 percent to 97.08 points. The euro Fell 0.12% to $ 1.1326 per euro. It yen The dollar appreciated by 0.54% to 113.55 yen per dollar.

In the commodity market, oil prices rose as a way to offset some of the serious losses at the previous meeting, although growth was limited by uncertainties about global economic growth and the new signs of rising supplies.

future contracts Brent Rose $ 1.67 to $ 60.47 a barrel after falling 6% on Friday. Contracts on crude oil are easy (WTI)) Added $ 1.21 to its value at $ 51.63 a barrel after a 7.7% drop on Friday.

US Futures Contracts gold Reached $ 1222.40 per troy ounce.

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