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S&P, Nasdaq extend winning streaks to 8 consecutive trading days on Monday
(MENAFN) On Monday, US stock markets closed higher, continuing their recent upward momentum. The S&P 500 and Nasdaq both extended their winning streaks to eight consecutive trading days. The Nasdaq, which is heavily weighted towards technology stocks, saw a substantial increase, gaining 245 points or 1.39 percent, to end the session at 17,876. The S&P 500 also posted a notable rise, adding 54 points or 0.97 percent, to close at 5,608. This broad-based improvement in stock prices reflects positive investor sentiment and ongoing confidence in the market.
The Dow Jones Industrial Average also experienced a positive day, rising 236 points or 0.58 percent, and finishing at 40,896. This performance contributes to a generally optimistic outlook across major US indices. Alongside these gains, the VIX volatility index, commonly referred to as the "fear index," decreased by 1 percent to 14.65, indicating reduced market anxiety. Additionally, the 10-year US Treasury yield fell by 0.44 percent to 3.875 percent, reflecting a dip in long-term interest rates and further suggesting a stable investment environment.
In currency markets, the US dollar index declined by 0.58 percent to 101.86, while the euro held steady against the dollar at a rate of USD1.1086. This movement in the dollar index highlights shifts in currency valuations and market sentiment. In the precious metals sector, gold saw a slight decrease of 0.14 percent, with its price settling at USD2,504 per ounce. In contrast, silver saw a more substantial increase of 1.5 percent, reaching USD29.44 per ounce, reflecting divergent trends within the precious metals market.
Oil prices experienced a notable decline of more than 2.1 percent, with global benchmark Brent crude oil falling to USD77.81 per barrel and US benchmark West Texas Intermediate dropping to USD73.81 per barrel. This decrease in oil prices underscores ongoing fluctuations in the global energy markets and could influence broader economic conditions and market sentiment.
The Dow Jones Industrial Average also experienced a positive day, rising 236 points or 0.58 percent, and finishing at 40,896. This performance contributes to a generally optimistic outlook across major US indices. Alongside these gains, the VIX volatility index, commonly referred to as the "fear index," decreased by 1 percent to 14.65, indicating reduced market anxiety. Additionally, the 10-year US Treasury yield fell by 0.44 percent to 3.875 percent, reflecting a dip in long-term interest rates and further suggesting a stable investment environment.
In currency markets, the US dollar index declined by 0.58 percent to 101.86, while the euro held steady against the dollar at a rate of USD1.1086. This movement in the dollar index highlights shifts in currency valuations and market sentiment. In the precious metals sector, gold saw a slight decrease of 0.14 percent, with its price settling at USD2,504 per ounce. In contrast, silver saw a more substantial increase of 1.5 percent, reaching USD29.44 per ounce, reflecting divergent trends within the precious metals market.
Oil prices experienced a notable decline of more than 2.1 percent, with global benchmark Brent crude oil falling to USD77.81 per barrel and US benchmark West Texas Intermediate dropping to USD73.81 per barrel. This decrease in oil prices underscores ongoing fluctuations in the global energy markets and could influence broader economic conditions and market sentiment.
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