US stocks strengthened, with broader indexes S&P 500 and Nasdaq posting their best quarter since 2020 despite the war with Iran. Investors remain optimistic about economic growth and quarterly corporate earnings results. The dollar strengthened.
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US indexes closed in the green
The Dow Jones index rose 0.26 percent today to 52,317.66 points. The broader Standard & Poor’s 500 index increased 0.79 percent to 7,499.36 points. The Nasdaq technology market index added 1.52 percent to 26,213.72 points.
“We’ve had a great first half of the year, definitely better than expected,” said analyst Oliver Pursche from Wealthspire Advisors in Connecticut. “Despite all the geopolitical issues, the US economy is performing well and corporate profits are strong,” he added.
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Dollar strengthened, yen fell to 40-year low
The US dollar strengthened, pushing the Japanese yen to a 40-year low. According to Reuters, the yen’s weakness is increasing expectations that there could be intervention by the Japanese central bank.
Shortly before 22:00 CEST, the dollar against the yen was up 0.4 percent at 162.61 JPY. During the day it climbed to 162.66 JPY, thus reaching its strongest level against the Japanese currency since 1986. The dollar index, which tracks the dollar’s performance against a basket of six major world currencies, was up 0.1 percent at 101.20 points at the same time. The euro was down 0.04 percent against the dollar at 1.1418 USD.
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Source: ČTK
