Economics News July 31, 2024
31 thg 7, 2024
U.S. Stock Market Situation on July 30
The U.S. stock market declined on Tuesday as investors aggressively sold off technology stocks ahead of financial reports from major tech companies. Specifically, the S&P 500 fell by 0.5% to 5,436.44 points. The Nasdaq dropped by 1.28% to 17,147.42 points. In contrast, the Dow Jones had a positive movement, increasing by 0.5% to 40,743.33 points.
U.S. Treasury Bonds Situation on July 30
The yield on the 10-year U.S. Treasury bond continued to decrease sharply, reaching 4.151%.
Dollar Index Situation
The Dollar Index reversed course, falling by 0.11% to 104.45 points as the Fed is expected to keep interest rates unchanged at its policy meeting today.
Gold Situation
Spot gold prices saw a significant increase today, with spot gold rising by 26.7 USD to 2,411.4 USD/ounce. Gold futures last traded up by 29.4 USD from early yesterday morning, reaching 2,455.1 USD/ounce.
Commodity Market Situation
At the end of the trading session on Tuesday, oil prices continued to decline, falling by more than 1% to the lowest level in seven weeks. This decline was attributed to OPEC+ likely continuing its plan to increase production, weak demand from China, and a potential ceasefire agreement in the Gaza Strip. Specifically, Brent oil prices fell by 1.15 USD, or 1.4%, to 78.63 USD/barrel. WTI oil prices dropped by 1.08 USD, or 1.4%, to 74.73 USD/barrel.
Source: Multiple sources
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