Stocks in the United States mostly weakened today, ultimately closing with minor changes. Investors continue to closely monitor the situation in the Middle East. Stocks rebounded from daily lows following a Reuters report that US and Iranian negotiators are exploring a deal to reopen the Strait of Hormuz. On the foreign exchange market, the dollar strengthened.
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Wall Street Ends Mixed as Fed Signals and Strong Meta Stock Growth Influence Markets
The Dow Jones Industrial Average, which includes shares of 30 leading American companies, lost 0.31 percent, closing at 51,349.98 points. The broader S&P 500 index fell by 0.02 percent to 7,704.13 points, and the Nasdaq Composite index, representing many advanced technology firms, rose by 0.01 percent to 26,939.37 points.
Oil prices continued to rise today, and government bond yields increased. According to John Williams, president of the New York branch of the US central bank (Fed), it would be reasonable for interest rates to be raised one more time this year. Shares of Meta Platforms rose by 4.5 percent. The company, which operates several social networks, unveiled a small pocket-sized device designed to work with its recently introduced artificial intelligence (AI) assistant.
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Dollar Climbs to Two-Month High, Driven by Strong US Economy
The US dollar reached a fresh two-month high today. This is attributed to economic statistics demonstrating strong economic growth in the USA, which are intensifying expectations for further interest rate hikes.
The dollar index, which expresses the dollar’s value against a basket of six major world currencies, added 0.2 percent to 101.27 points shortly before 10:00 PM CEST. The euro shed 0.05 percent against the dollar to 1.1376 USD. Against the yen, the dollar strengthened by 0.3 percent to 158.86 JPY.
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Source: ČTK
