2023-12-26 15:49:19
The Dow Jones index rose more than 100 points today, its first full day of trading this year.
As of 10:37 p.m. Thai time, the Dow Jones Industrial Average was at 37,493.89 points, plus 107.92 points or 0.29%.
The US stock market was closed yesterday. On the occasion of Christmas After making a record increase for 8 consecutive weeks, supported by the US Federal Reserve (Fed) signaling the end of the cycle of raising interest rates. and will reduce interest rates next year
Investors expect the Fed to start cutting interest rates in March 2024. And the Fed will cut interest rates 6 times in 2024, cutting interest rates by 0.25% each time, for a total of 1.50%, more than the Fed has signaled to cut interest rates 3 times, by 0.25% each time, for a total of 0.75%.
The market is keeping an eye on the “Santa Rally” phenomenon on Wall Street this year. This usually lasts for 7 business days, occurring during the last 5 business days of the current year as well as the first 2 days of the new year.
Data from Stock Trader’s Almanac shows that since 1969 the S&P 500 index has gained an average of 1.3% over a seven-day period.
Today’s market trading was supported by the surge in US home prices in October. This gives investors confidence that the US economy will not face a recession. But it will slow down gradually. or soft landing
The S&P CoreLogic Case Shiller survey shows that U.S. home prices rose in October.
The national home price index in the United States rose 4.8% year-on-year in October. This is the biggest increase this year from 4.0% in September.
The home price index for 20 U.S. cities rose 4.9% in October from 3.9% in September.
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