Nasdaq, S&P 500 score record close
US stock indices turned higher during trading on July 2, with bond returns declining, in light of investors' evaluation of the speech of Jerome Powell, Chairman of the Federal Reserve, indicating the progress made in combating inflation.
Dow Jones Industrial Average inched up 162 points, or 0.4%, to close at 39,331 points.
The S&P 500 index gained 33 points, or 0.6%, finishing at 5,509. The Nasdaq Composite Index advanced 149 points, or 0.85%, to end at 18,028. The two benchmarks hit a record close.
As for the European indices, STOXX Europe 600 retreated 0.4%, to 510.9 points, the lowest since May 6 (508.2 points).
The German DAX dropped by 0.7% at 18,164 points, while the French CAC 40 index fell by 0.3% to 7,538 points, and the British FTSE 100 decreased by 0.55% at 8,121 points.
In Japan, the Nikkei index rose by 1.1%, or 443 points, to 40,074 points, and the broader Topix index increased by 1.15% to 2,856 points.
In the oil market, futures contracts for Brent crude for September delivery rose by 0.4%, or 36 cents, to $86.24 per barrel.
Meanwhile, prices of US Nymex crude for August delivery retreated by 0.7%, or 57 cents, to $82.81 per barrel.
As for gold, futures prices for the yellow metal for August delivery fell by 0.25%, or $5.5, to $2,333.4 per ounce.
“We have made a lot of progress in bringing inflation back to our target, but we need to see more good data to bolster our confidence on inflation moving toward the 2% target before considering a policy pivot,” Jerome Powell said in the European Central Banks (ECB) Forum.
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