dow jones index news now
The Dow Jones Industrial Average and the Staples 500 Index rose slightly on Friday, the fate of the real estate giant China Evergrande Group was uncertain, and investors digested the hawkish trend of many central banks. U.S. stocks kept their weekly gains. As Season 3 enters its final week, US stocks may inevitably experience twists and turns.
Following the Fed’s stance, the Fed officials’ conversations including Chairman Bauer will be the focus of the market’s attention.
The Dow Jones Industrial Average and the Stamp 500 Index both gained 0.1%, while the Nasdaq Composite Index, which is dominated by technology stocks, fell less than 0.1%. At the end of the week, the Dow Jones and Staples rose 0.6% and 0.5%, respectively, while Nasdaq was little changed.
TSMC’s ADR fell 0.5% on Friday, and the weekly decline was 1.8%; the Philadelphia Semiconductor Index fell slightly by 0.1%, and the weekly rise was nearly 1%.
The US 10-year Treasury bond yield rose to 1.459% on Friday, the highest level since July. As the yield on public bonds gets higher, the attractiveness of the stock market decreases in comparison.
Holders of Evergrande Group’s US dollar bonds have not received interest after the deadline on Thursday has elapsed, triggering the risk of bankruptcy. Evergrande’s Hong Kong stock price plummeted 11.6% on Friday and has collapsed by 84% this year.
The Evergrande crisis set off selling pressure on US stocks this week. US stock funds redeemed US$28.6 billion in a week as of Wednesday, the largest in a week since February 2018. However, investors bought on dips and stabilized on Wednesday. In addition, the Federal Reserve (Fed) stated that the U.S. economy has made considerable progress and can begin to reduce easing measures as early as November. The Dow Jones Index rose 2.5% on Wednesday and Thursday, marking its biggest two-day gain in March.
Following the Fed meeting, the Norges Bank became the first central bank in the West to raise interest rates on Thursday. The Bank of England also stated that the argument for a “slightly tightening monetary policy” in the next few years will be more adequate.
Looking ahead to next week, investors will still closely monitor the changes in the Evergrande crisis, and on the one hand, they will also see whether the yield of U.S. Treasury bonds will continue to rise after the Fed meeting. UBS Global Wealth Management analysts believe that even if the U.S. 10-year bond yield rises to 1.8% this year, it will not disrupt the trend of U.S. stocks .
The so-called “re-inflation trading” has also revived, that is, the yield of public bonds has risen; bank stocks, energy stocks, and other economically sensitive stocks have also strengthened. The Fed’s turning into an eagle is often regarded as unfavorable to the stock market, but some investors believe that the Fed’s position is tantamount to an affirmation of the state of the US economy dow jones index.
Therefore, Bauer will testify twice in the U.S. Congress and the European Central Bank (ECB) on one occasion next week. Finance Minister Yellen will also testify in Congress on Wednesday and Thursday.
Down Push is considered as one of the well knows and popular website for providing quality information related to new gadgets and technology news. Also, Down Push is one of the leading technology media on the internet as well as one of the most famous technology blog online. Mainly this provides articles related to internet portals, latest tech product Upcoming and Current PC |XBOX|PS|ANDROID| APPLE| IPHONE| GAMING reviews and news.