US exchanges show varied results on Monday’s open
Date
9/17/2024 7:46:26 AM
(MENAFN) On Monday, the major U.S. stock exchanges displayed mixed performance as they opened for trading. The Dow Jones Industrial Average saw a notable increase, rising by 330 points or 0.8 percent, reaching a level of 41,726 as of 9:54 a.m. EDT (1354GMT). Similarly, the S&P 500 made a modest gain of six points, or 0.12 percent, climbing to 5,632. This positive movement in the Dow and S&P 500 indicates a bullish sentiment in the broader market.
In contrast, the nasdaq Composite experienced a decline, falling by 100 points, or 0.57 percent, to 17,582. This decrease in the Nasdaq suggests a pullback in the technology-heavy index, which could be attributed to varying factors affecting tech stocks. The mixed results among these indices reflect a divergence in performance across different sectors of the market.
The VIX volatility index, often referred to as the "fear index," saw a 3.3 percent increase, rising to 17.11, indicating heightened market uncertainty. Additionally, the 10-year U.S. Treasury yield experienced a slight uptick of 0.14 percent, reaching 3.652 percent. This rise in yields could signal shifting expectations for interest rates and economic conditions.
In the foreign exchange and commodities markets, the U.S. dollar index decreased by 0.42 percent to 100.69, while the euro gained 0.5 percent against the dollar, trading at USD1.1130. Precious metals showed positive movement, with gold rising by 0.47 percent to USD2,588 per ounce and silver increasing by 0.1 percent to USD30.97 per ounce. Oil prices also saw an upward trend, with Brent crude rising approximately 2 percent to USD73.02 per barrel and West Texas Intermediate climbing to USD69.29 per barrel. This overall rise in commodity prices reflects broader economic factors influencing these markets.
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