The US stock markets presented a mixed picture on Thursday, with the Dow Jones closing at 42,172 points, a decline of 0.1 percent from the previous trading day. The S&P 500, a broader market index, was little changed, while the Nasdaq 100, a technology-focused index, inched up by a fraction of a point.
Market participants are currently grappling with a range of uncertainties. The ongoing uncertainty surrounding future tariffs and their economic implications remains a key concern. Additionally, the geopolitical situation, including the potential for US President Donald Trump to intervene in the conflict between Israel and Iraq, is also a topic of discussion.
Furthermore, the verbal sparring match between Trump and Jerome Powell, the chair of the Federal Reserve, continues. Trump has called for 10 interest rate cuts, a significant departure from the Fed’s current expectations of only two cuts this year. This has raised questions about the US president’s willingness to respect the independence of the central bank, a principle that has been consistently upheld by the courts.
Meanwhile, the euro strengthened slightly against the US dollar, with one euro exchanging for 1.1497 US dollars and one US dollar for 0.8698 euros. The price of gold rose by 0.1 percent, with one troy ounce trading at 3,371 US dollars, or 94.26 euros per gram.
Crude oil prices, on the other hand, surged, with a barrel of Brent crude trading at 78.85 US dollars, a 2.8 percent increase from the previous day’s close.