Dow Jones, S&P 500 end at record highs, indices extend gains
US stock indices continued to build on their gains by the end of trading on Oct. 11, with both the Dow Jones and S&P 500 closing at record highs. This marks the fifth consecutive week of gains, driven by market optimism surrounding
The positive momentum reflects investor confidence, as many companies have reported better-than-expected earnings, boosting hopes for continued growth in the broader economy despite lingering inflation concerns.
The Dow Jones Industrial Average gained 409 points, or 0.95%, closing at 42,863 points, with a weekly gain of 1.2%.
The S&P 500 index added nearly 0.6%, or 34 points, to 5,815. It posted a weekly rise of 1.1%.
The Nasdaq Composite Index rose about 0.35%, or 60 points, to 18,342, jumping 1.15% in the week.
Elsewhere, the STOXX Europe 600 Index advanced 0.55% to 521.9 points, with a weekly gain of 0.65%.
FTSE 100 ended 0.2% up at 8,253 points. Germany’s DAX 40 Index edged up 0.85%, or 162 points, to 19,373 points. The CAC 40 Index closed 0.5% up at 7,577 points.
The Nikkei 225 gained 0.55% to finish at 39,605 points. TOPIX inched up 0.25% to 2,706 points.
On oil market, Brent crude futures for December delivery fell by 0.45%, or 36 cents, to $79.04 a barrel, though they recorded a weekly gain of 1.25%. Similarly, US WTI crude futures for November delivery dropped by 0.4%, or 29 cents, to $75.56 a barrel, while recording a weekly gain of 1.6%.
As for gold, futures for December delivery rose by 1.4%, or $37, to $2,676.30 per ounce, with the precious metal up by 0.3% for the week.
Economic data revealed a slowdown in annual producer price inflation for September, marking the slowest pace of increase since February. Additionally, consumer expectations for long-term inflation in October declined.
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