2023-07-13 13:46:39
Dow jumps more than 100 points on strong performance of listed companies
As of 8:33 p.m. Thai time, the Dow Jones Industrial Average was 34,466.62 points, plus 119.19 points or 0.35%.
PepsiCo and Delta Air Lines shares rose today. After revealing earnings that exceeded analyst expectations.
In addition, the market was supported by expectations that The Federal Reserve (Fed) is nearing an end to its cycle of raising interest rates. following the release of the Consumer Price Index (CPI) and the Producer Price Index (PPI), which indicates lower-than-expected inflation numbers by investors predicting that The Fed will raise interest rates just one more time this year before cutting rates next year.
The latest CME Group FedWatch Tool shows investors are 92.4% weighing on the Fed raising interest rates by 0.25% to a range of 5.25-5.50% at its July 25-26 meeting, and 7.6% weighing on the Fed. will maintain interest rates at 5.00-5.25%
In addition, investors weighed 42.2% that the Fed will cut interest rates by 0.25% to a range of 5.00-5.25% at its January 30-31, 2024 meeting, up from 18.0% last week.
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