Today’s global markets: US stocks quiet as they await the Fed’s decision

On Monday, the performance of US stock indices remained subdued in anticipation of the Federal Reserve’s upcoming monetary policy meeting scheduled for January 30-31 and the release of earnings reports from major technology companies.

As of 11:27 a.m. ET, the Dow Jones Industrial Average declined by 16.46 points (0.04%) to 38,092.97, the S&P 500 saw a minimal increase of 1.04 points (0.02%) to 4,892.01, and the Nasdaq Composite rose by 27.38 points (0.18%) to 15,482.74.

At the opening bell, the Dow Jones Industrial Average showed a modest increase of 6.40 points (0.02%) to 38,115.83, the S&P 500 opened higher by 1.98 points (0.04%) at 4,892.95, and the Nasdaq Composite gained 15.29 points (0.10%) reaching 15,470.66.

Investors are closely monitoring the Federal Reserve’s meeting, with expectations that interest rates will remain unchanged. Attention is particularly focused on signals from Chairman Jerome Powell during the press conference regarding the possibility of interest rate cuts at the next monetary policy meeting in March.

In the previous session, the S&P 500 slipped by 3.19 points (0.1%) to 4,890.97, the Dow Jones Industrial Average rose by 60.30 points (0.2%) to 38,109.43, and the Nasdaq Composite lost 55.13 points (0.4%) to 15,455.36.

The US dollar strengthened, leading to the euro reaching a nearly seven-week low.

In European markets, the STOXX 600 index briefly touched a fresh two-year high, while Britain’s FTSE 100 remained flat at 7,632.74. France’s CAC 40 added less than 0.1% at 7,640.81, and Germany’s DAX lost 0.1% at 16,941.71.

In Asian markets, Hong Kong’s Hang Seng Index rose by 0.8% to 16,077.24, China’s Shanghai Composite lost 0.9% at 2,883.36, and Japan’s Nikkei 225 added 0.8% at 36,026.94.

Oil prices increased following a drone attack on US forces in Jordan, contributing to concerns about supply disruptions in the Middle East. Brent crude futures gained 21 cents, reaching $83.76 a barrel, while US West Texas Intermediate crude futures edged up by 21 cents to $78.22.

Gold prices strengthened on Monday amid growing concerns over tensions in the Middle East. Spot gold gained 0.5% to $2,029.10 an ounce by 1325 GMT, and US gold futures were up 0.6% at $2,029.50.

Related Articles

Back to top button