U.S. stock markets exhibited significant gains on Thursday, buoyed by a series of factors. The Dow Jones Industrial Average closed at 46,108 points, representing a 1.4% increase from the previous day’s close.
Shortly before the closing bell in New York, the broader S&P 500 reached approximately 6,588 points, a 0.9% increase, while the Nasdaq 100 was valued at around 23,992 points, up 0.6%.
Recent data indicating a softening labor market, coupled with a rise in initial jobless claims, initially fueled investor expectations of a potential interest rate cut by the Federal Reserve as early as September. However, the release of persistent inflation figures on Thursday, potentially exacerbated by tariffs imposed by the U.S. administration, cast doubt on the likelihood of a substantial rate reduction in September.
Despite this setback, investors are now anticipating three interest rate cuts before the year’s end, exceeding the two cuts projected by the central bank’s preliminary forecasts.
The euro strengthened against the U.S. dollar on Thursday evening, trading at $1.1738, equivalent to €0.8519 per dollar.
Gold prices experienced a slight decrease, closing at $3,636 per fine ounce, down 0.2%. This translates to €99.58 per gram.
Oil prices, however, saw a more pronounced decline, with Brent crude falling to $66.29 per barrel, a reduction of $1.20 (1.8%) compared to the previous day’s close.