USA: Growth on Wall Street
[ad_1]
Thursday’s quotations on Wall Street ended with increases in the main indices. Better-than-expected retail sales data fueled hopes that 2024 will bring a soft landing in the US economy.
The Dow Jones Industrial was up 0.43% at closing. and amounted to 37,248.35 points.
The S&P 500 increased by 0.26% at the end of the day. and amounted to 4,719.55 points.
The Nasdaq Composite gained 0.19%. and closed the session at 14,761.56 points.
On Thursday, investors received fresh data that fueled hopes for a soft landing of the economy.
US retail sales increased 0.3% in November. month to month. Analysts expected sales to decline by 0.1%.
The number of people applying for unemployment benefits for the first time last week in the US was 202,000. Economists expected the number of new unemployed to be 220,000. compared to 221 thousand previously, after correction from 220 thousand
Investors also analyzed Wednesday’s Fed decision and the comments of President Jerome Powell, who signaled the possibility of starting a cycle of interest rate cuts in the US.
Market attention was also focused on the ECB, which left interest rates unchanged on Thursday (the reference rate is still at 4.50%). The central bank of the euro zone announced that interest rates will remain at elevated levels for as long as necessary.
By 2.7 percent Occidental Petroleum’s share price rose on Thursday after Warren Buffett’s Berkshire Hathaway acquired nearly 10.5 million shares of the oil giant for approximately USD 588.7 million.
6.4 percent Adobe’s share price fell after the creator of Photoshop forecast annual and quarterly revenues below estimates.
The largest technology companies fell. Microsoft’s price dropped by approximately 2.2 percent, and Netflix’s by 2.1 percent. Amazon’s shares fell nearly 1% and Alphabet’s dropped 0.5%.
On the oil market, WTI contracts for January are valued at USD 71.72 per barrel, after an increase of 3.2%, and February Brent futures are increasing by approximately 3.3%. up to USD 76.7/b. (PAP)
pel/ sp/
[ad_2]
Source link
