US equity markets experienced a decline on Friday. At the close of trading in New York, the Dow Jones Industrial Average stood at 45,545 points, representing a decrease of 0.2 percent from the previous session.
The broader S&P 500 index registered a loss of 0.6 percent, closing around 6,460 points. The Nasdaq 100 also saw a downward trend, concluding the day at approximately 23,415 points, down 1.2 percent.
Market anticipation for a potential interest rate cut by the US Federal Reserve in September remains, supported by recent statements from Fed Chair Jerome Powell acknowledging risks to the labor market. However, data released Friday indicated an increase in inflation during July. Core inflation, excluding volatile food and energy costs-a key metric for the central bank-reached a seasonally adjusted annual rate of 2.9 percent, its highest level since February. This presents a challenge for Powell and the Federal Reserve as they navigate the dual mandates of maximizing employment and maintaining a 2 percent inflation rate.
In currency markets, the Euro strengthened marginally, trading at 1.1699 US dollars. Conversely, the US dollar was valued at 0.8548 Euros.
Gold prices gained ground, closing at 3,447 US dollars per troy ounce, a 1.0 percent increase. This equates to 94.73 Euros per gram.
Crude oil prices, however, decreased. Brent crude, the North Sea benchmark, traded at 68.12 US dollars per barrel late Friday, a decrease of 50 cents, or 0.7 percent, from the previous day’s close.