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Powell "doves" Dow Jones hits new high

2024-07-16

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China News Service, July 16: The three major U.S. stock indices closed higher on Monday, with the Dow Jones Industrial Average hitting a new high.


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At 16:00 EST on July 15 (04:00 BJT on July 16), the Dow Jones Industrial Average closed up 210.82 points at 40,211.72, a 0.53% increase, a record closing high; the Nasdaq Composite Index closed up 74.12 points at 18,472.57, a 0.40% increase; the S&P 500 closed up 15.87 points at 5,631.22, a 0.28% increase. During the session, the Dow Jones Industrial Average rose to 40,351.10 points, and the S&P 500 rose to 5,666.94 points, both of which were record intraday highs.

Most of the large technology stocks in the U.S. stock market rose, with Apple up 1.68%, Amazon down 0.91%, Netflix up 1.37%, Google up 0.79%, Facebook down 0.54%, and Microsoft up 0.09%.

U.S. bank stocks rose collectively, with JPMorgan Chase up 2.53%, Goldman Sachs up 2.66%, Citigroup up 1%, Morgan Stanley up 1.19%, Bank of America up 0.77% and Wells Fargo up 2.14%.

U.S. energy stocks rose across the board, with ExxonMobil up 1.73%, Chevron up 1.58%, ConocoPhillips up 1.31%, Schlumberger up 3.36% and Occidental Petroleum up 1.34%.

Most U.S. airline stocks fell, with Boeing down 1.71%, American Airlines down 0.47%, Delta Air Lines down 1.35%, Southwest Airlines up 0.73%, and United Airlines down 0.89%.

Popular Chinese stocks fell across the board, with the Nasdaq China Golden Dragon Index down 3.64%, Canadian Solar down 11.17%, BOSS Direct down 7.33%, JinkoSolar down 6.76%, Gaotu Group down 6.45%, TAL down 6.06%, 21Vianet down 6.06%, Baidu down 5.98%, Daqo New Energy down 5.92%, Beike down 5.53%, JD.com down 5.33%, iQiyi down 5.25%, Bilibili down 5.09%, and Ctrip Group down 4.93%; in terms of gains, Canaan Technology up 13.08%, Bit Digital up 10.53%, and ACM up 4.21%. Chinese new energy vehicle stocks fell across the board, with NIO down 4.83%, Xpeng down 4.86%, and Li Auto down 3.2%.

In terms of news, according to Reuters, Federal Reserve Chairman Powell said on Monday that three inflation data in the United States in the second quarter of this year "have increased people's confidence to a certain extent" that the rate of price increases is returning to the Fed's target in a sustainable manner. This remark suggests that the Fed may turn to interest rate cuts soon.

European stock market: The three major European stock indexes all fell on the 15th. The Financial Times 100 stock average price index in London, UK, closed at 8182.96 points, down 69.95 points from the previous trading day, a drop of 0.85%; the CAC40 index in Paris, France, closed at 7632.71 points, down 91.61 points from the previous trading day, a drop of 1.19%; the DAX index in Frankfurt, Germany, closed at 18590.89 points, down 157.29 points from the previous trading day, a drop of 0.84%.

International oil prices: International oil prices fell on the 15th. The price of light crude oil futures for August delivery on the New York Mercantile Exchange fell 30 cents to close at US$81.91 per barrel, a decrease of 0.36%; the price of London Brent crude oil futures for September delivery fell 18 cents to close at US$84.85 per barrel, a decrease of 0.21%.

US Dollar Index: The US dollar index rose on the 15th. The US dollar index, which measures the US dollar against six major currencies, rose 0.09% on the day and closed at 104.189 at the end of the foreign exchange market. As of the end of the New York foreign exchange market, 1 euro was exchanged for 1.0901 US dollars, lower than 1.0906 US dollars on the previous trading day; 1 pound was exchanged for 1.2972 US dollars, lower than 1.2989 US dollars on the previous trading day. 1 US dollar was exchanged for 157.86 Japanese yen, lower than 157.92 Japanese yen on the previous trading day; 1 US dollar was exchanged for 0.8956 Swiss francs, higher than 0.8947 Swiss francs on the previous trading day; 1 US dollar was exchanged for 1.3671 Canadian dollars, higher than 1.3630 Canadian dollars on the previous trading day; 1 US dollar was exchanged for 10.5987 Swedish kronor, higher than 10.5283 Swedish kronor on the previous trading day. (China News Service APP)

  (The views in this article are for reference only and do not constitute investment advice. Investment is risky and you should be cautious when entering the market.)