2023-10-30 22:31:16
American stocks recover part of their losses… and the Dow Jones rises 511 points
I compensated US stocks Part of last week’s losses in Monday’s trading, coinciding with a decline in prospects The scope of the conflict expands In the Middle East, the main stock indices ended trading today at… the green ZoneThe Dow Jones Industrial Average added 511 points, its best day since June 2.
At the end of trading on the first day of the week, the rising points in the most famous index in the world represented 1.58% of its value at the beginning of the day, and the S&P 500 index rose by 1.20%, while the rise in the Nasdaq index stopped at 1.16%.
Communications services were the best-performing sector within the S&P 500 index, rising more than 2% on its best day since late August. Shares of large technology companies rose, with Amazon stock jumping 3.90%, while Meta stock added 2% to its value during today’s trading.
These moves came following the S&P 500 index fell into the correction zone last week, losing more than 10% from the highest level it recorded in 2023, according to the markets’ definition of the correction zone. The broader index lost 2.5% during the week, on its way to the third negative month in a row, for the first time since 2020, in the wake of the emergence and spread of the epidemic.
European stocks rose on Monday, supported by a drop in bond yields, as investors evaluated key inflation data, while Siemens Energy shares continued to rise as talks continued regarding guarantees related to its projects.
The STOXX 600 index rose at the close by 0.4%, following falling more than 4% in the past two weeks, as stocks were supported by a decline in sovereign bond yields in the euro zone.
Data showed a decline in inflation in the state of North Rhine-Westphalia, the most populous state in Germany, this October, while inflation in Spain stabilized on an annual basis this month at the 3.5% level it recorded last month.
Oil prices fell by more than 3% today, Monday, as fears receded regarding the impact of the war between the Israeli occupation forces and the Palestinian resistance on supplies from the region, and investor caution increased ahead of the Federal Reserve’s (US Central Bank) monetary policy meeting this week.
The price of Brent crude futures at settlement reached $87.45 per barrel, a decrease of $3.03, or 3.35%, and US West Texas Intermediate crude fell $3.23, or 3.78%, to reach $82.31 at settlement.
The two crude oil prices rose 3% on Friday, following Israel intensified its ground operations in Gaza, which reinforced fears of a widening scope of the conflict in a region from which a third of global oil production comes. But analysts said that this concern began to fade on Monday.
Investors are awaiting the outcome of the US Central Bank’s monetary policy meetings on Wednesday, and the results of Apple’s business, hoping to find indicators of any economic slowdown, which may limit the US Central Bank’s desire to maintain interest rates at their high levels.
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