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Economics News October 11, 2024

9 thg 10, 2024

U.S. Stock Market Update on October 8:

The U.S. stock market rebounded sharply as oil prices declined and investors assessed the political tensions in the Middle East. Specifically, the S&P 500 rose by 0.97%, reaching 65,751.13 points. The Nasdaq increased by 1.45%, closing at 18,182.92 points, and the Dow Jones gained 126.13 points, or 0.3%, ending at 42,080.37 points.


U.S. Treasury Bond Update on October 8:

The yield on the 10-year U.S. Treasury bond fell to 4.014%, down from the previous day.


Dollar Index Update:

The Dollar Index declined to 102.47 points as investors evaluated the prospects of further interest rate cuts in the U.S., along with concerns over political conflicts in the Middle East.


Gold Market Update:

Global gold prices continued their downward trend, with spot gold dropping by $20.9 to $2,622.2 per ounce. Gold futures last traded at $2,640.6 per ounce, down $21.3 from the previous morning.


Commodities Market Update:

In the commodities market, notable developments included a sharp drop in oil prices by more than 4% at the close of the October 8 session. This came after reports of a potential ceasefire between Hezbollah and Israel. Brent crude fell by $3.75, or 4.63%, to $77.18 per barrel, while WTI crude dropped by $3.57, or 4.63%, to $73.57 per barrel.


Source: Compiled

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