US Markets Show Mixed Performance Amid Trade and Inflation Optimism
New York’s stock markets presented a mixed picture on Wednesday, with the Dow Jones Industrial Average closing just slightly lower than the previous day, settling at 44,484 points.
Earlier in the trading session, the broader S&P 500 index gained 0.5 percent, reaching approximately 6,225 points. The Nasdaq 100, heavily weighted with technology stocks, climbed 0.7 percent to around 22,642 points.
Investor sentiment appeared to improve throughout the day, fueled by expectations that the impending resumption of US tariffs on July 9th would be less impactful than initially anticipated. Furthermore, speculation is growing that the Federal Reserve might accelerate its interest rate cuts. President Donald Trump’s announcement of a trade agreement with Vietnam bolstered optimism regarding the tariff situation. Recent data from ADP, a payroll services firm, suggesting a larger-than-expected number of job losses, also supports the possibility of a shift in the Fed’s focus, potentially prioritizing economic growth over combating inflation.
In currency markets, the Euro weakened slightly against the US dollar, trading at $1.1798.
Gold prices experienced gains, closing at $3,358 per ounce, a 0.6 percent increase.
Meanwhile, oil prices saw a significant surge. A barrel of Brent crude, the North Sea benchmark, reached $68.89, a 2.7 percent increase compared to the previous day’s close.