By the end of trading on January 15, the Dow Jones index increased by 1,65% to 43,221.55 points, the S&P 500 index increased by 1,83% to 5,949.91 points, while the Nasdaq Composite increased by 2,45% to 19,511.23 points. This is the best result for all three indexes since November 6, 2024.
The US Bureau of Labor Statistics reported on Wednesday that the core CPI, which strips out food and energy prices, rose 3.21 percent year-over-year in December 2024, below the previous month's increase and below the 3.31 percent increase forecast by economists surveyed by Dow Jones. Headline inflation rose 2.91 percent year-over-year in the same period, in line with expectations.
Brent crude oil price decreased by 1.35% to 79.92 USD/barrel. Meanwhile, WTI crude oil price decreased by 1.67% to 77.50 USD/barrel.
Bart Melek, commodity strategist at TD Securities, said the lower-than-expected core CPI reading is a positive sign for gold. This could prompt the Fed to not rule out a rate cut. Spot gold rose 0.6% to $2,693.63 an ounce on January 15, while gold futures rose 1.3% to $2,717.8 an ounce.
Economic and financial news in the oil market, Brent crude oil price 2.59% to 81.99 USD/barrel, while WTI oil price increased 3.19% to 79.97 USD/barrel. The EIA report said that US crude oil reserves fell to the lowest level since 2022 due to increased exports while imports decreased, although gasoline and distillate inventories increased more than expected. Let's HVA Update the latest economic and financial news.
