ECONOMIC AND FINANCIAL NEWS OCTOBER 16, 2024

Posted date: October 16, 2024 Updated date: 10/16/2024

Index

US Stock Market Situation Yesterday, October 15

Economic and financial news on October 16, 2024. The US stock market fell in the trading session on Tuesday (October 15), slipping from the record set in the previous session, in the context of investors being somewhat cautious after a series of recent peak sessions and pondering the latest series of financial reports. Specifically, the S&P 500 index decreased 0.76%, to 5,815.26 points. The Nasdaq index decreased 1.10%, to only 18,315.59 points. The Dow Jones index decreased 324.8 points, equivalent to a decrease of 0.75%, to 42,740.42 points.

On the US Treasury bond situation on October 15

The yield on 10-year US Treasury bonds fell sharply, to just 4.038%.

About the Dollar Index situation

The Dollar Index edged up slightly in the last trading session, reaching 103.23. The US dollar rose slightly against most major currencies yesterday and continued its upward trend, taking the currency to its highest level in more than two months on expectations that the US Federal Reserve will gradually cut interest rates over the next year.

San Francisco Fed President Daly said last month’s rate cut was a “correction” of policy as inflation cooled and interest rates remained limited. She added that the Fed would likely make one or two more 25-basis-point rate cuts this year.

About Gold Situation 

World gold prices reversed and increased slightly, with spot gold increasing by 12.5 USD to 2,662.2 USD/ounce. Gold futures last traded at 2,679.6 USD/ounce, up 15.9 USD compared to early this morning.

On the situation of the commodity trading market

At the end of the trading session on October 15, oil prices fell more than 4% to the lowest level in nearly 2 weeks due to the prospect of weaker demand and concerns about supply disruptions from the Middle East easing after the market received information that Israel will not attack Iran's oil and nuclear facilities.

Brent crude oil price decreased by 3.21 USD, equivalent to 4.14%, to 74.25 USD/barrel. WTI crude oil price decreased by 3.25 USD, equivalent to 4.4%, to 70.58 USD/barrel.

The metal group had mixed developments, the price of silver in December 2024 (SIEZ24) increased by 1.5% in the trading session on October 15 to reach 31,756 USD/troy ounce. On the contrary, the price of platinum in January 2025 and the price of copper in December 2024 both went down, decreasing by 0.7% and 1.6% respectively compared to the previous session, to 996.6 USD/troy ounce and 4.3375 USD/ounce. Let's follow HVA to update and grasp the fastest information about the financial market every day. 

 

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