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Economics News July 09, 2024

9 thg 7, 2024

The situation of the US stock market

The US stock market increased on Monday as investors awaited Federal Reserve Chairman Jerome Powell's testimony on monetary policy and anticipated inflation data to be released this week. At the close, the S&P 500 index rose by 0.1% to 5,527.85 points. The Nasdaq index increased by 0.28% to 18,403.74 points. The Dow Jones index, however, had an opposite trend, decreasing by 0.08% to 39,344.79 points.


The Situation of US Treasury Bonds

The yield on 10-year US Treasury bonds slightly decreased to 4.282%.


The Situation of the Dollar Index

The Dollar Index regained its upward momentum, increasing by 0.14% to 105.01 points.


The Situation of Gold

Global gold prices decreased, with spot gold dropping by $33.3 to $2,359.6 per ounce. Gold futures last traded down by $33.1 compared to early yesterday morning, reaching $2,366.4 per ounce.


The Situation of the Commodity Market

At the end of yesterday's trading session, oil prices fell by about 1% to a one-week low due to the impact of Hurricane Beryl and expectations of a possible ceasefire agreement in Gaza. Brent oil prices dropped by 79 cents, or 0.9%, to $85.75 per barrel. WTI oil prices fell by 83 cents, or 1%, to $82.33 per barrel.

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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.

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