Economic News September 09, 2024
9 thg 9, 2024
U.S. Stock Market Situation at the End of Last Week on September 6
The U.S. stock market saw a sharp decline on Friday as a weak jobs report prompted investors to sell off tech stocks. Specifically, the S&P 500 index dropped by 1.73%, closing at 5,408.42 points. The Nasdaq index slid 2.55%, down to 16,690.83 points. The Dow Jones index fell by 1.01%, ending the session at 40,351.41 points.
U.S. Treasury Bonds Situation on September 8
The 10-year U.S. Treasury bond yield reversed course and increased, reaching 3.734%.
Dollar Index Situation
The Dollar Index started the new week at 101.19 points.
Gold Situation
Global gold prices today are trending upward, with spot gold rising by 3.2 USD compared to the closing level last week, reaching 2,501.4 USD/ounce.
Commodity Market Situation
At the close of Friday's session, oil prices fell by more than 2% after the U.S. jobs report came in weaker than expected. Specifically, Brent crude oil prices dropped by 1.63 USD, or 2.24%, to 71.06 USD/barrel - the lowest level since December 2021. WTI crude oil prices fell by 1.48 USD, or 2.14%, to 67.67 USD/barrel - the lowest since June 2023.
Source: Multiple sources
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The Dollar Index continued to rise, gaining 0.28% to reach 101.27 points. The U.S. dollar strengthened in the latest session as newly released data showed that the U.S. economy grew faster than expected.
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