Microsoft 0.8%, Amazon.com 1.0%, Meta 0.5%,
Google’s Alphabet up 0.8%, Tesla up 0.4%, Netflix up 1.4%
In comparison, Nvidia fell 1.0%, AMD 0.8%, and ARM 1.1%.
[소셜밸류=김완묵 기자] The New York Stock Exchange in the United States showed a cautious trend ahead of the announcement of the results of the Federal Open Market Committee (FOMC) meeting the next day. The Dow Jones Industrial Average and the S&P 500 Index seemed to be on a steady path, hitting record highs until the morning, but they reversed downward in the afternoon as cautionary selling surged. However, they showed a fluctuating trend throughout the day, turning upward again at the end of the session. The mood improved as it was revealed that the U.S. consumer indicators were not that bad in a situation where interest rate cuts were becoming a fait accompli, but it is assessed that there was also a lot of selling pressure due to possible variables.
On the 17th (local time), the Dow Jones Industrial Average closed at 41,606.18, down 15.90 points (0.04%) from the previous day on the New York Stock Exchange (NYSE).
The S&P 500 index closed at 5,634.58, up 1.49 points, or 0.03%, from the previous day, and the Nasdaq Composite Index, which is centered on technology stocks, closed at 17,628.06, up 35.93 points, or 0.20%. The Philadelphia Semiconductor Index closed at 4,912.10, up 1.66 points, or 0.03%.
Among the major stocks, Apple rose 0.2%, Microsoft rose 0.8%, Amazon.com 1.0%, MetaTrader 0.5%, Google’s Alphabet 0.8%, Tesla 0.4%, and Netflix 1.4%. In comparison, Nvidia 1.0%, AMD 0.8%, and ARM closed down 1.1%.
On this day, US Treasury yields are rising slightly in the afternoon. As of 4:09 p.m. local time, the 10-year yield is at 3.644%, up 0.023% points (2.3bp) from the previous day, and the 2-year yield is at 3.599%, up 0.044% points (4.4bp) from the previous day.
As of 11:55 a.m., the Dow was up 102 points (0.25%) from the previous day, at 41,724.
The S&P 500 index was up 20 points (0.36%) from the previous day at 5,653, and the Nasdaq Composite Index, which is centered on technology stocks, was up 123 points (0.70%) from the previous day at 17,715. The Philadelphia Semiconductor Index was up 54 points (1.11%) from the previous day at 4,964.
Major stocks included Apple up 0.1%, Microsoft up 0.9%, Nvidia up 0.5%, Amazon.com up 1.8%, MetaTrader up 0.3%, Google’s Alphabet up 0.9%, Tesla up 2.2%, Netflix up 0.8%, AMD up 0.2%, and ARM up 1.2%.
On this day, U.S. Treasury yields were rising. As of 11:38 a.m. local time, the 10-year yield was at 3.646%, up 0.025 percentage points (2.5 bp) from the previous day, and the 2-year yield was at 3.615%, up 0.060 percentage points (6.0 bp) from the previous day.
Prior to this, as of 10:30 a.m., the Dow Jones Industrial Average was up 182.49 points (0.44%) from the previous day, recording 41,804.57. The S&P 500 Index was up 32.28 points (0.57%) from the previous day, recording 5,665.37, and the Nasdaq Composite Index, which is centered on technology stocks, was up 151.02 points (0.86%) from the previous day, recording 17,743.15. The Russell 2000 Index, which is composed of small- and mid-cap stocks, also recorded a 1% increase.
According to foreign media and Yonhap News, the Dow Jones Industrial Average rewrote its intraday all-time high in one day. The S&P 500 also renewed its intraday all-time high for the first time in two months since July 16. In particular, the New York Stock Exchange in the United States on this day showed a favorable performance, with the Dow Jones Industrial Average, a group of blue-chip stocks, and the Standard & Poor’s (S&P) 500, a large-cap benchmark, renewing their all-time highs, encouraged by retail sales indicators that suggested further improvement in American consumption as the September meeting of the Federal Open Market Committee (FOMC) began. However, as profit-taking increased in the afternoon, the directions of these indices closed in opposite directions.
The previous day, the Dow Jones Industrial Average hit a new intraday high and also hit a high at the closing price as buying pressure poured into blue chip stocks in anticipation of a rate cut. The S&P 500 Index also rose for six consecutive trading days. However, the Nasdaq Index showed weakness due to the lukewarm market response to Apple’s new product, the iPhone 16.
The August retail sales released today suggested the U.S. economy’s continued resilience.
According to the U.S. Department of Commerce, retail sales in August rose 0.1% from the previous month on a seasonally adjusted basis to $710.8 billion, exceeding market expectations (0.2%↓). Compared to the same period last year, it increased 2.1%, a gradual increase from the previous month (2.9%↑), but still a high level. Retail sales are a key axis that accounts for two-thirds of the U.S. economy. When consumer spending is solid, concerns about a recession naturally ease, so it is one of the indicators that investors pay attention to.
Market participants’ attention today is focused on the FOMC, which opened for two days. The Federal Reserve (Fed) is expected to cut its benchmark interest rate at this meeting, putting an end to its tightening monetary policy that has been in place since March 2022. The current U.S. benchmark interest rate is 5.25-5.50%, the highest level in 20 years.
It is known that opinions are divided even within the Fed regarding the extent of the cut, and if a decision is made to cut rates by 25 or 50 bp, it will be the first move to ease monetary policy in 4 years and 6 months since March 2020.
According to the FedWatch tool of the Chicago Derivatives Exchange Group (CME Group) on that day, the probability of the Fed cutting the rate by 25bp at the September FOMC was reflected as 39%, and the probability of a 50bp cut was reflected as 63%. The probability of a 50bp cut was slightly higher than the same time the previous day.
“Economic activity is solid, but labor markets are weakening,” said Seema Shah, chief global strategist at Principal Asset Management. “The Fed’s decision will be complicated by the conflicting signals.” “We’ve never been more wrong on a FOMC meeting,” he said, suggesting the Fed would be more cautious and cut rates by 25 basis points at this meeting. He also forecast another 25 basis points cut in November and December.
On this day, the stock price of traditional semiconductor company Intel attracted attention by closing up more than 2% on the day following a 6% surge the previous day. Intel, which has been struggling with recent management deterioration, announced a large-scale restructuring plan, including spinning off the foundry business in which it has been investing heavily since 2021 and halting the construction of overseas factories. In addition, the news that it extended its partnership with Amazon Web Services (AWS) and signed a contract to produce artificial intelligence (AI) chips for AWS, and that it would receive $3 billion in incentives under the Chips Act, which was enacted by the U.S. federal government to promote semiconductor production, also had a positive effect.
Microsoft shares closed up nearly 1% after the company announced a $60 billion stock buyback plan and a 10% dividend increase.
International oil prices are on the rise. The price of West Texas Intermediate (WTI) crude oil for October delivery is trading at $71.41 per barrel, up 1.88% from the previous day, and the price of Brent crude oil for December delivery is trading at $73.20 per barrel, up 1.46% from the previous day.
[저작권자ⓒ 사회가치 공유 언론-소셜밸류. 무단전재-재배포 금지]
– What were the closing values of the Dow Jones Industrial Average and S&P 500 Index after the mixed session?
Table of Contents
US Stocks End Mixed as Investors Await FOMC Meeting Results
The US stock market ended the trading session on a mixed note ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting results announcement. The Dow Jones Industrial Average and the S&P 500 Index initially rose to record highs in the morning but reversed their gains in the afternoon as cautionary selling surged. However, they managed to recover some of their losses by the end of the session.
The Dow Jones Industrial Average closed at 41,606.18, down 15.90 points (0.04%) from the previous day, while the S&P 500 Index closed at 5,634.58, up 1.49 points (0.03%) from the previous day. The Nasdaq Composite Index, which is heavily weighted towards technology stocks, closed at 17,628.06, up 35.93 points (0.20%).
Among the major stocks, Apple rose 0.2%, Microsoft 0.8%, Amazon.com 1.0%, Meta 0.5%, Google’s Alphabet 0.8%, Tesla 0.4%, and Netflix 1.4%. On the other hand, Nvidia fell 1.0%, AMD 0.8%, and ARM 1.1%.
The Philadelphia Semiconductor Index, which is a key indicator of the technology sector, closed at 4,912.10, up 1.66 points (0.03%). Meanwhile, US Treasury yields rose slightly in the afternoon, with the 10-year yield standing at 3.644% and the 2-year yield at 3.599%.
Market analysts attributed the mixed performance to investors’ caution ahead of the FOMC meeting results, which are expected to provide insight into the Federal Reserve’s monetary policy decisions. The meeting is widely expected to result in an interest rate cut, but investors are also bracing for potential surprises.
The US consumer indicators, which were released earlier in the day, showed some resilience, which helped to boost market sentiment. However, investors remain cautious about the potential impact of global economic uncertainty on the US stock market.
In the coming sessions, market participants will be closely watching the FOMC meeting results and the subsequent market reaction. The outcome of the meeting is expected to have a significant impact on the direction of the US stock market, and investors are advised to exercise caution and stay tuned for further developments.
Keywords: US stock market, FOMC meeting, interest rates, stock prices, Dow Jones Industrial Average, S&P 500 Index, Nasdaq Composite Index, Apple, Microsoft, Amazon.com, Meta, Google’s Alphabet, Tesla, Netflix, Nvidia, AMD, ARM, Philadelphia Semiconductor Index, US Treasury yields.
Meta Description: Get the latest updates on the US stock market, including the Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Composite Index, ahead of the FOMC meeting results announcement.
Header Tags:
H1: US Stocks End Mixed as Investors Await FOMC Meeting Results
H2: Dow Jones Industrial Average and S&P 500 Index Reverse Gains
H2: Technology Stocks Show Mixed Performance
H2: Market Analysts Weigh in on FOMC Meeting Results
H2: US Consumer Indicators Show Resilience
H2: Investors Exercise Caution Ahead of FOMC Meeting Results
5,174.00, down 12.30 points (0.24%).
Stock Market Update: Microsoft, Amazon, and Google Lead the Charge, While Nvidia and AMD Take a Hit
The New York Stock Exchange (NYSE) experienced a tumultuous day on September 17, with the Dow Jones Industrial Average and S&P 500 Index hitting record highs in the morning before falling in the afternoon. Despite the fluctuations, the market eventually closed with a mixed performance, with some major stocks rising and others falling.
Winners of the Day
Microsoft led the pack with a 0.8% increase, followed closely by Amazon.com, which rose 1.0%. Meta, Google’s Alphabet, and Tesla also saw significant gains, with increases of 0.5%, 0.8%, and 0.4%, respectively. Netflix was the biggest winner of the day, surging 1.4%.
Losers of the Day
On the other hand, Nvidia took a hit, falling 1.0%, while AMD dropped 0.8%. ARM also saw a decline of 1.1%.
Market Trends
The Dow Jones Industrial Average closed at 41,606.18, down 15.90 points (0.04%) from the previous day. The S&P 500 Index closed at 5,634.58, up 1.49 points (0.03%), and the Nasdaq Composite Index closed at
