May 13, 2022 – 07:29
Dow Jones closes down 103.81 points on concerns regarding high US inflation. Fed raises interest rates as WTI oil rises 42 cents, gold sheds $29.10.
Investment climate in the US stock market Dow closes negative amid volatile trading Because investors are still worried that higher than expected inflation numbers may push the Federal Reserve (Fed) to accelerate interest rates.
The Dow closed at 31,730.30 points, down 103.81 points or -0.33%.
Nasdaq closed at 11,370.96 points, up 6.73 points, or +0.06%.
The S&P500 closed at 3,930.08 points, down 5.10 points or -0.13%.
New York West Texas Intermediate (WTI) crude futures closed positive. driven by the forecast that Global oil supplies will be tight following Ukraine shuts down its main gas route to Europe, but markets remain pressured by concerns regarding the impact of a prolonged Chinese lockdown in Shanghai.
WTI crude oil contract for delivery in June It was up 42 cents, or 0.4%, at $106.13 a barrel.
Brent crude oil contract (BRENT) for delivery in July. It was down 6 cents, or 0.05%, at $107.45 a barrel.
COMEX (Commodity Exchange) gold contracts for delivery in June It was down $29.10, or 1.57%, at $1,824.60 an ounce.
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