Economics News August 02, 2024
2 thg 8, 2024
U.S. Stock Market Situation on August 1
The U.S. stock market sharply declined on Thursday as investors worried about the potential for an economic recession in the U.S. Specifically, the S&P 500 index fell by 1.37%, down to 5,446.68 points. The Nasdaq index decreased by 2.3%, to 17,194.15 points. The Dow Jones index dropped by 1.21%, to 40,347.97 points.
U.S. Treasury Bond Situation on August 1
The 10-year U.S. Treasury bond yield continued its sharp decline, dropping to 3.982%.
Dollar Index Situation
The Dollar Index turned upward, rising by 0.24% to 104.34 points as geopolitical tensions in the Middle East led investors to seek safer havens.
Gold Situation
The global gold price reversed its trend and fell today, with spot gold prices decreasing by $4.2 to $2,444 per ounce. Gold futures last traded down $6 from yesterday morning, reaching $2,487.3 per ounce.
Commodity Market Situation
At the end of Thursday's trading session, oil prices slightly declined by approximately 2% as political tensions in the Middle East did not significantly impact the oil market. Specifically, Brent oil prices fell by $1.32, or 1.6%, to $79.52 per barrel. WTI oil prices decreased by $1.6, or 2.1%, to $76.31 per barrel.
Source: Multiple sources
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The drop in the PMI below 50 reflects a contraction in the manufacturing sector, which could also impact demand in the metal industry.
Metals News August 23, 2024
23 tháng 8, 2024
The overwhelming selling pressure dragged the MXV-Index down by an additional 0.59% to 2,102 points, extending the losing streak to three consecutive sessions. By the close of the market, nearly the entire price board for metals and agricultural products was covered in red.
The metal and agricultural markets are ablaze, causing the MXV-Index to continue its decline.
23 tháng 8, 2024
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