Dow Jones reaches new highs as US shares end Monday’s session higher
Date
7/16/2024 3:36:46 AM
(MENAFN) The Dow Jones Industrial Average achieved a new record high on Monday, as U.S. Stocks ended the trading session on a positive note. The blue-chip index, which comprises 30 leading American companies, rose by 210 points, equivalent to a 0.53 percent increase, closing at 40,211. During the day, it even reached an all-time high of 40,351.10 points, reflecting strong investor confidence.
In addition to the Dow, the S&P 500 index also saw gains, adding nearly 16 points or 0.28 percent, to close at 5,631. The nasdaq composite followed suit, increasing by 74 points, which represents a 0.4 percent rise, finishing the day at 18,472. These increases indicate a broad upward trend across major U.S. indices, as investors responded positively to market conditions.
Despite the overall gains, the VIX volatility index—often referred to as the fear index—rose by 5.4 percent, reaching 13.13. This suggests that while the market was performing well, there were still underlying concerns among investors. The yield on the 10-year U.S. Treasury bond also saw an uptick of 1 percent, climbing to 4.227 percent, indicating a slight increase in borrowing costs.
In currency markets, the dollar index experienced a modest increase of 0.12 percent, reaching 104.22, while the euro slipped by 0.08 percent, trading at USD1.0897 against the U.S. dollar.
When it comes to precious metals, the performance was mixed: gold prices increased by 0.24 percent to USD2,422 per ounce, while silver saw a slight decline of 0.3 percent, closing at USD30.70.
On the commodities front, oil prices edged down by approximately 0.2 percent, with global benchmark Brent crude priced at USD84.85 and the U.S. benchmark West Texas Intermediate at USD80.84. Overall, the day's trading reflected a complex landscape where strong stock performance coexisted with fluctuations in other financial markets.
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