the dow jones industrial average plunged more than 700 points! the us stock market was shaken and reversed in a v-shape! what happened in the market that night?
2024-09-12
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this article is transferred from [cctv finance];
on wednesday, the u.s. released mixed inflation data for august. traders lowered their bets on the federal reserve's sharp 50 basis point rate cut in september. the u.s. dollar index and u.s. treasury yields rose in the short term. the three major u.s. stock indexes continued their volatile trend since september.the dow jones industrial average fell more than 700 points after opening, falling below the 40,000 mark.however, driven by technology stocks, the three major stock indexes erased their losses and rose collectively. as of the close, the dow jones industrial average rose 0.31%, the s&p 500 rose 1.07%, and the nasdaq rose 2.17%.
us cpi rose 2.5% year-on-year in august
specifically, data released by the u.s. department of labor on wednesday showed that the u.s. consumer price index (cpi) rose 2.5% year-on-year in august, a significant decrease from the previous value of 2.9%, marking the fifth consecutive month of slowdown and the smallest increase since february 2021. excluding volatile food and energy costs, the core cpi rose 3.2% year-on-year in august, remaining stable, while the month-on-month increase in the core cpi was slightly higher than expected and the previous value, the largest increase in four months. from the perspective of sub-indicators, the slowdown in overall inflation in august was mainly driven by falling commodity prices, while the unexpected increase in the core inflation rate was mainly due to the accelerated growth of housing and transportation costs. wall street analysts believe that although the overall inflation level in the united states is still moving towards the fed's 2% target range, the market's expectations for the fed to cut interest rates by 50 basis points at next week's monetary policy meeting have cooled significantly, with expectations for a 25 basis point cut reaching 85%.
on the 11th, the three major european stock indices rose and fell
on wednesday, the three major european stock indices fluctuated between gains and losses throughout the day. the uk's gdp growth rate in july was flat month-on-month, indicating that the uk economy has stagnated for the second consecutive month, dragging down the performance of the uk stock market. as of the close, the three major european stock indices rose and fell on the day. among them, the uk ftse 100 index fell 0.15%, the french cac40 fell 0.14%, and the german dax rose 0.35%.
international oil prices rebounded significantly on the 11th
in the crude oil market, the latest data from the u.s. energy information administration on wednesday showed that inventories at cushing, the commercial crude oil delivery point, decreased by 1.7 million barrels last week from the previous month. affected by hurricane francine, energy companies such as exxonmobil, shell and chevron have shut down some facilities in the gulf of mexico and evacuated employees from 130 offshore platforms. daily oil production capacity may be reduced by more than 400,000 barrels, accounting for about 24% of the u.s. gulf of mexico oil production capacity. the above news has tightened crude oil supply, and international oil prices have rebounded significantly from the sharp drop in the previous trading day. as of the close of the day, the price of light crude oil futures for october delivery on the new york mercantile exchange closed at $67.31 per barrel, an increase of 2.37%; the price of london brent crude oil futures for november delivery closed at $70.61 per barrel, an increase of 2.05%.
international gold prices fell slightly on the 11th
the rise of the us dollar index put upward pressure on gold prices, and international gold prices fell on wednesday. as of the close, the december gold futures price on the new york mercantile exchange closed at us$2,542.4 per ounce, down 0.03%.
cctv reporter: he jiajing
