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US exchanges end Tuesday’s session with mixed performances
(MENAFN) On Tuesday, major US stock exchanges ended the day with mixed results as the Federal Reserve began its two-day monetary policy meeting. The Dow Jones Industrial Average experienced a slight decline, falling nearly 16 points, or 0.04 percent, to close at 41,606. In contrast, the S&P 500 managed a modest gain of 1.5 points, or 0.03 percent, ending the session at 5,634. The nasdaq Composite saw a more notable increase, adding nearly 36 points, or 0.2 percent, to finish at 17,628.
The Federal Reserve's meeting is anticipated to lead to a reduction in interest rates, though the extent of the cut remains uncertain. At the close of trading, the probability of a 25 basis point rate cut was estimated at 36 percent, while the likelihood of a 50 basis point reduction stood at 65 percent, according to the FedWatch Tool provided by the Chicago Mercantile Exchange Group.
The VIX volatility index, often referred to as the "fear index," rose by 2.8 percent to 17.62, reflecting increased market uncertainty. The 10-year US Treasury yield also saw an uptick, adding 0.76 percent to reach 3.651 percent. In currency markets, the US dollar index increased by 0.22 percent to 100.99, while the euro depreciated by 0.14 percent against the dollar, trading at USD1.1117.
Precious metals experienced a downturn, with gold decreasing by 0.5 percent to USD2,569 per ounce and silver falling 0.2 percent to USD30.67. On the other hand, oil prices rose by approximately 1.6 percent, with Brent crude, the global benchmark, trading at USD73.91 per barrel, and US benchmark West Texas Intermediate at USD70.18.
The Federal Reserve's meeting is anticipated to lead to a reduction in interest rates, though the extent of the cut remains uncertain. At the close of trading, the probability of a 25 basis point rate cut was estimated at 36 percent, while the likelihood of a 50 basis point reduction stood at 65 percent, according to the FedWatch Tool provided by the Chicago Mercantile Exchange Group.
The VIX volatility index, often referred to as the "fear index," rose by 2.8 percent to 17.62, reflecting increased market uncertainty. The 10-year US Treasury yield also saw an uptick, adding 0.76 percent to reach 3.651 percent. In currency markets, the US dollar index increased by 0.22 percent to 100.99, while the euro depreciated by 0.14 percent against the dollar, trading at USD1.1117.
Precious metals experienced a downturn, with gold decreasing by 0.5 percent to USD2,569 per ounce and silver falling 0.2 percent to USD30.67. On the other hand, oil prices rose by approximately 1.6 percent, with Brent crude, the global benchmark, trading at USD73.91 per barrel, and US benchmark West Texas Intermediate at USD70.18.
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