A better-than-expected US consumer confidence report is the latest evidence that the Federal Reserve is not cutting interest rates anytime soon.
At the close of the session, the Dow Jones Industrial Average fell 1.11 points to 38,441.54. The S&P 500 Composite Index fell 0.71 points to 5,266.95, while the Nasdaq Technology Index fell 0.61 points to 16,920.58.
On the other side of the Atlantic, the FTSE index on the London Stock Exchange (UK) closed down 0.9% to 8,183.70 points. The CAC 40 index on the Paris Exchange (France) fell 1.5% to 7,935.03 points.
The DAX 30 index in Frankfurt (Germany) decreased by 1.1% to 18,473.29 points, while the EURO STOXX 50 index decreased by 1.3% to 4,963.20 points.
Markets are awaiting the release of the next key US personal consumption expenditures index, which is also the Fed’s key inflation gauge. “The PCE price index report due Friday (May 31) will be the most important report this week,” said Collin Martin, strategist at the Schwab Center for Financial Research.
Investors are also waiting for the eurozone inflation for May 2024 to be announced on May 31. In Vietnam, at the end of the trading session on May 29, the VN-Index decreased by 0.71% to 1,272.64 points, while the HNX-Index also decreased by 0.58% to 244.15 points.
Source: Bnews
