Dow Jones notches record close as US stocks rise for 3rd week
US stock indices recorded gains for the third straight week, despite mixed performance at the close on Friday. This followed profit-taking by investors capitalizing on record levels achieved after the Federal Reserve concluded its tightening cycle.
At the close of trading on Friday, the Dow Jones Industrial Average rose by 0.35%, or 137 points, closing at a record high of 42,313 points, marking a weekly gain of 0.6%.
In contrast, the S&P 500 dipped by about 0.15%, or 7 points, to 5,738 points, reducing its weekly gains to 0.6%.
The Nasdaq fell by approximately 0.4%, or 70 points, to 18,119 points, but the tech index posted a weekly gain of 0.95%.
In European markets, the Stoxx Europe 600 index climbed by 0.45% to 528 points, achieving a record closing for the second consecutive session and boosting its weekly gains to 2.7%.
The UK’s FTSE 100 rose by 0.45% to 8,320 points, while France's CAC 40 increased by 0.65% to 7,791 points. Germany's DAX added 1.2%, or 235 points, closing at a record level of 19,473 points.
In Japan, the Nikkei index surged by 2.3%, or 903 points, to 39,829 points, while the broader Topix index rose by 0.75% to 2,740 points, with both indices achieving weekly gains of 5.6% and 3.75%, respectively.
In the oil market, Brent crude futures for November delivery rose by 0.55%, or 38 cents, to $71.98 per barrel, reducing their weekly losses to 3.35%.
Meanwhile, West Texas Intermediate (WTI) or NYMEX crude for November delivery increased by 0.75%, or 51 cents, to $68.18 per barrel, but recorded a weekly decline of 3.95%.
In terms of gold, December futures fell by 1%, or $26.80, to $2,668.10 per ounce. However, the yellow metal posted gains for the third consecutive week, having risen by 0.85% this week.
Additionally, the personal consumption expenditures (PCE) price index, a measure closely monitored by the Federal Reserve to assess the cost of goods and services in the US economy, increased by 0.1% month-over-month (MoM) in August, bringing the annual inflation rate to 2.2%, slightly below the expected 2.3%.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}