2023-09-09 12:40:44
The Standard & Poor’s 500 index closed slightly higher the day before yesterday with trading fluctuations towards the end of the session, while the three main indices on Wall Street recorded weekly losses as investors worried regarding interest rates and awaited US inflation readings.
The S&P 500 and Nasdaq fell 1.3% and 1.9%, respectively, in their first negative week in three weeks. The Dow Jones index closed down by regarding 0.8%.
Investors are concerned regarding the rise in oil prices, and are awaiting the release of the consumer price index for August, scheduled to be announced next Wednesday, in search of signals regarding the Federal Reserve’s decisions on interest rates.
According to unofficial data, the Standard & Poor’s 500 index closed during the session the day before yesterday, rising 6.35 points, or 0.15%, while the Nasdaq Composite Index increased 12.69 points, or 0.09%, and the Dow Jones Industrial Average rose 78.53 points, or 0.23%. .
european
European markets closed higher in the session the day before yesterday, following US stocks achieved temporary gains amid uncertainty regarding inflationary expectations. The basic resources sector fell 0.4%, with media stocks rising 1.1%, while the Stoxx 600 index closed The European Union rose by 0.22%, breaking a losing streak that lasted seven sessions, the longest since February 2018. The index lost 1% this week.
Global market sentiment has declined in recent days as investors evaluate weak Chinese data, rising government bond yields, and renewed inflationary fears in the United States.
US CPI data for August will be released on September 13, while investors are also watching oil and gas prices, which rose this week due to Saudi supply cuts and strikes in Australia.
The euro zone released final figures last Thursday, which indicate that the economy grew by 0.1% in the second quarter compared to the previous period. This was lower than the expected growth of 0.3% in the initial reading
European gas prices rose sharply on Friday as workers at Chevron’s Australian natural gas facilities went on strike, raising concerns that a prolonged production halt might put pressure on global supplies.
Japan
The Japanese Nikkei index fell by more than 1%, in the session the day before yesterday, to suffer its first weekly loss in three weeks following following the path of Wall Street in light of fears that the Federal Reserve (the US central bank) will tighten its monetary policy, and that China will extend a ban on… iPhone phones.
Technology and industrial companies were among the biggest losers, with the shares of the giant Tokyo Electron Company, which manufactures chip-making equipment, falling 3.83%, pushing the Nikkei Index to decline, losing 85 points.
Mobile gaming and company CyberAgent’s shares also fell 6.83%, recording the largest percentage decline in the Nikkei index.
The Nikkei index fell 1.16% to 32,606.84 points at the close, following falling 0.75%, last Thursday, when it also ended an eight-day winning streak following touching its highest level in more than a month at 33,322.45 points early in the session. The index fell 0.32% over the week.
The broader Topix index fell 1.02% the day before yesterday, and also fell for the second day following recording its highest level in 33 years early in Thursday’s session. However, the Topix index managed to achieve gains of 0.40% during the week.
Of the 225 stocks listed on the Nikkei Index, 200 stocks declined, 24 rose, and one stock stabilized. Among the industrial groups on the Nikkei index, only utility sector stocks rose. A decline in new US jobless claims has increased speculation that the Federal Reserve may continue to tighten monetary policy.
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