The American New York Stock Exchange closed its trading yesterday (March 28) local time, with the Dow Jones Index rising slightly to 47.29 points, amid investors’ response to the American economic data. Including GDP Ready to monitor the release of the Personal Consumption Price Index today (March 29) to assess inflation trends. and the direction of the interest rate
The Dow Jones Industrial Average closed at 39,807.37 points, up 47.29 points, or +0.12%, the S&P 500 index closed at 5,254.35 points, up 5.86 points, or +0.11%, and the Nasdaq index closed at 16,379.46 points, down 20.06 points, or -. 0.12%
The United States released strong economic data yesterday. The US Department of Commerce revealed the third estimate of GDP for the fourth quarter of 2023 expanding by 3.4%, which is higher than the first and second estimates of 3.3% and 3.2%, respectively, and higher than analysts’ expectations. Expectations of 3.2%, driven by consumer and government spending. Including investment in the business sector
The US Department of Labor revealed that initial claims for unemployment benefits fell by 2,000 to 210,000 last week. Below analyst estimates of 212,000.
For the latest comments from Fed officials, Christopher Waller, a member of the Fed's Board of Governors, said at the New York State Economic Association meeting: The disappointing US inflation data recently reported is confirmation that the Fed does not need to rush to cut rates. interest so far. But Mr. Waller does not rule out this possibility. The Fed will cut interest rates this year
CME Group's FedWatch tool indicates that investors are now 64% expecting the Fed to cut interest rates by at least 0.25% at its June meeting.
Ten out of 11 stocks in the S&P 500 index closed in positive territory, led by telecommunications services, energy and technology stocks. Meanwhile, real estate stocks fell.
Investors are closely monitoring the February release of the US Personal Consumption Expenditures (PCE) Price Index today, with the PCE being the Fed's focus on inflation data. Because it can detect changes in consumer behavior and covers the prices of goods and services more broadly than the Consumer Price Index (CPI).
The New York Stock Exchange will be closed today for Good Friday.
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