US stocks close at 5% high after the Wall Street holiday

The US stocks ended the second trading session for the week following a tumbling session on Tuesday and a brief session earlier this week on Christmas holidays, green as technology stocks led and retail stocks rallied on Wall Street rallies as risk appetite rallied. Following the surge in holiday sales for the 2018 US holiday season.



The Dow Jones industrial average rose more than 1,000 points for the first time in its history, and the S & P 500 and Nasdaq Composite both reversed their best daily performance in nearly a decade, shrinking losses this month that widened following the Federal Reserve's interest rate hike 25 basis points for the fourth time this year to between 2.25% and 2.50% last Wednesday with a sign of further tightening monetary policy.



Stocks fell about 2 percent for a fourth consecutive session on Monday, with concern about the partial closure of the federal government and slowing global economic growth, before rebounding on Wednesday, buoyed by a strong shopping season that reflected its best performance in six years as sales rose by more From 5% to over $ 850 billion, MasterCard said in its report today.



In addition, the US economy followed the S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% last September, beating expectations of 4.8%. Before we see the Rachamond Industrial activity shrank to a value of 8 versus growth at 14 in November, contrary to expectations of a 16-year expansion.



US President Donald Trump said on Tuesday that the government closure would continue until an agreement was reached to secure a wall along the border with Mexico. He said the $ 5 billion financing of the wall was negotiable and he expressed confidence in the decisions of Treasury Secretary Sevan Menuchon. As the Federal Reserve raises interest rates at a rapid pace, and comes amid the entry of the closure of the government for the fifth day in a row.



The Dow Jones Industrial Average ended the session higher by 4.98% or 1,086.25 points at 22,878.45 points. The Standard & Poor's 500 Index rose 4.96% or 116.60 points to close at 2,467.70 points, while the NASDAQ Composite Index rose 5.84 Or 361.44 points to close at 6,554.35 points.





In contrast, gold futures for February delivery fell 0.20% to currently trade at $ 1,269.20, reversing the highest since June 19 compared to the opening at $ 1,271.80 an ounce, while the dollar index rose 0.46% to levels 97.02, the highest since December 18, compared to the opening at 96.58.



On the other hand, Nymex crude futures for February delivery rose 9.78% to trade at $ 46.69 per barrel, reversing their second-day low since June 22, 2017 compared to the opening at $ 42.53 a barrel. Brent crude for delivery February 14, 8.56% to trade at $ 54.79 a barrel, showing a rebound from the lowest since July 25 of 2017 compared to the opening price of $ 50.47 per barrel.

Comments

Popular posts from this blog

US stocks are trading in negative territory with the technology sector leading the losses

US consumer prices fell in line with expectations

The sharp drop in Wall Street shares has weighed on Saudi banks