US Stock Market Situation Yesterday, October 16
The financial economic news showed that the US stock market rose in the trading session on Wednesday (October 16), with the Dow Jones index hitting a new record, reversing the previous session's decline. The momentum for this session came from positive financial reports and the downward trend of crude oil prices, although investor sentiment was somewhat cautious ahead of an important economic data release.
At the close, the S&P 500 index increased 0.47%, reaching 5,842.47 points. The Nasdaq index increased 0.28%, reaching 18,367.08 points. The Dow Jones index increased 337.28 points, equivalent to an increase of 0.79%, closing the session at 43,077.7 points.
On the US Treasury bond situation on October 16
The yield on 10-year US Treasury bonds fell sharply, to just 4.016%.
About the Dollar Index situation
The Dollar Index rose in the last trading session, reaching 103.52. The US dollar rose sharply in the last trading session, reaching an 11-week high, as investors ruled out the possibility of the US Federal Reserve (Fed) cutting interest rates aggressively at its next policy meeting.
About Gold Situation
World gold prices continued to rise, supported by weakening bond yields and increasing expectations of interest rate cuts by major central banks, along with safe-haven demand due to concerns about ongoing tensions. Spot gold increased by 13 USD to 2,675.2 USD/ounce. Gold futures last traded at 2,690.3 USD/ounce, up 11.4 USD compared to early yesterday morning.
On the situation of the commodity trading market
The economic and financial news ended the trading session on October 16. Oil prices have made a "hat-trick" of declines this week after yesterday's trading session ended. During this session, oil prices only fluctuated slightly, maintaining the lowest level in the past 2 weeks. Brent oil prices decreased by 3 cents, down to 74.22 USD/barrel. WTI oil prices decreased by 19 cents, equivalent to 0.3%, down to 70.39 USD/barrel.
The December 2024 silver settlement price stopped at 31.974 USD/troy ounce, up 0.7% compared to the previous trading session. The platinum price added 0.6% compared to the previous trading session, bringing the settlement price on October 16 to 1,002.6 USD/troy ounce. Copper prices also followed the direction of futures contracts, the December 2024 copper contract settlement price stopped at 4.3675 USD/pound, up 0.7%. Let's follow HVA to update and grasp the fastest information about the financial market every day.
