Reporters reported that today (15 September), the Dow Jones index fluctuates. After adjusting in the first phase, as of 11:46 pm Thai time, the Dow Jones Industrial Average stood at 31,033.00 points, minus 117.00 points or 0.38%, while investors were watching the US economic data. This indicates the direction of interest rates of the US Federal Reserve (Fed).
Energy stocks fell to lead the market. As oil prices slumped more than 3% today, financial stocks jumped once morest the market as they benefited from rising interest rates.
The U.S. released higher-than-expected retail sales figures in August. While the number of people applying for unemployment benefits was lower than expected last week. The New York Fed said its manufacturing index was higher than expected in September. And the Philadelphia Fed revealed lower-than-expected manufacturing indexes.
In addition, trading was pressured by a rebound in US Treasury yields. amid the forecast that The Fed will raise interest rates to at least 0.75% at its monetary policy meeting next week.
The yield on the two-year US Treasury is sensitive to the Fed’s monetary policy. It continues to rise above 3.8% today and is above the 10-year and 30-year U.S. Treasury yields.
Short-term bond yields bounce higher than long-term yields in the US bond market inverted yield curve, signaling a recession. Amid the Fed’s accelerating rate hike
The latest CME Group’s FedWatch Tool indicates that investors weighed 80 percent that the Fed would raise interest rates by 0.75% to 3.00-3.25% at its Sept. 20-21 meeting, and weighted 20 percent that the Fed would. Raised interest rates 1.00%
If the Fed raises interest rates by 0.75% in September, it will raise interest rates by 0.75% for the third time following raising 0.75% in both June and July.
