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Economic News July 16, 2024

16 thg 7, 2024

US Stock Market Situation

The US stock market rose on Monday as expectations grew that former President Donald Trump and the Republican Party could win the November elections following an attempted assassination on him. The S&P 500 increased by 0.28%, closing at 5,631.22 points. The Nasdaq rose by 0.4%, ending the session at 18,427.57 points. The Dow Jones climbed by 0.53%, reaching 40,211.72 points, marking a record closing high for the Dow Jones.


US Treasury Bonds Situation

The yield on the 10-year US Treasury bond fell slightly to 4.222%.


Dollar Index Situation

The Dollar Index recovered slightly, rising by 0.16% to 104.26 points following comments from Fed Chairman Jerome Powell.


Gold Situation

Global gold prices continued to rise modestly, with spot gold increasing by $8.7 to $2,422.6 per ounce. Futures gold also rose by $5.1 compared to the previous session, reaching $2,425.8 per ounce.


Commodity Markets Situation

At the end of yesterday’s session, demand from China and the strengthening US dollar continued to push oil prices down. Brent crude oil fell by 18 cents, or 0.2%, to $84.85 per barrel. WTI crude oil dropped by 30 cents, or 0.4%, to $81.91 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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