US Stock Markets Close with a Mixed Picture on Thursday
The US stock markets closed unevenly on Thursday. The Dow Jones was calculated at 42,342 points at the end of trading in New York, a minimal increase of 0.04% compared to the previous trading day, thus ending a ten-day losing streak.
The Nasdaq 100 closed at 21,111 points, 0.5% lower, and the broader S&P 500 ended the day at 5,867 points, 0.1% in the red.
One of the day’s most significant topics was the looming “shutdown” which the Republicans may have averted, at least according to a statement by the designated US President Donald Trump on his social media platform Truth Social. Trump stated that Speaker of the House Mike Johnson and the House of Representatives had reached a “very good agreement for the American people” which would keep the government open. The newly agreed-upon “American Relief Act of 2024” is part of the deal, as well as a two-year extension of the debt ceiling until January 2027. However, it remains unclear whether the plans will gain a majority in the House of Representatives, given potential resistance from Democrats and some Republicans, with a vote possibly taking place late on Friday (German time).
The euro was slightly stronger on Thursday evening, with one euro costing 1.0367 US dollars, and one dollar being worth 0.9646 euros.
Meanwhile, the oil price declined significantly, with a barrel of Brent North Sea oil costing around 22:00 German time, 72.57 US dollars, a decrease of 82 cents or 1.1% compared to the end of the previous trading day.