The US New York Stock Exchange closed trading yesterday (November 10) local time, with the Dow Jones Index rising sharply to 391.16 points, supporting the upward trend in technology stocks. The group is growing after US bond yields stabilized while investors focus on the release of inflation data and other economic data next week
Dow Jones Industrial Average The S&P 500 index closed at 34,283.10 points, up 391.16 points, or +1.15%, the S&P 500 index closed at 4,415.24 points, up 67.89 points, or +1.56%, and the Nasdaq index closed at 13,798.11 points, up 276.66 points, or +2.05%. %.
All 11 stocks in the S&P 500 index closed in positive territory, led by technology, which rose 2.6%, with Indian stocks rising about 3%, Meta Platforms rising 2.6%, and Microsoft stocks rising 2.5%.
The US stock market rebounded after its decline on Thursday (November 9), which was affected by Mr. Jerome Powell, Chairman of the Federal Reserve, making statements indicating that the Fed may raise interest rates again to stop inflation.
The market was supported by the US 10-year Treasury yield remaining unchanged at 4.62% after rising on Thursday following a weaker-than-expected 30-year bond auction result.
Investors are focusing on bond yields, which have fallen from their highest levels in 16 years, and on estimates that the Federal Reserve may have finished raising interest rates to control inflation. Including when the Fed might start cutting interest rates.
The market will also be watching the release of the US Consumer Price Index (CPI) next week. Including the Producer Price Index (PPI) and retail sales. This helps predict interest rate trends.
Read more news
“Reader. Infuriatingly humble coffee enthusiast. Future teen idol. Tv nerd. Explorer. Organizer. Twitter aficionado. Evil music fanatic.”