Dow Jones index fluctuates Most recently, it fell more than 100 points, dropped 31,000 points as investors watched the US economic data. This indicates the direction of interest rates of the US Federal Reserve (Fed).
At 11:26 p.m. Thai time, the Dow Jones Industrial Average stood at 30,977.47 points, minus 157.62 points, or 0.51%.
Energy stocks lead the market As the price of oil slumped more than 3% today.
The stocks in the financial group rose once morest the market. Because it is the group that benefits from the rising interest rate.
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 As a result, the US bond market has an 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.
