Reporters reported that The Dow Jones Index continues to rise today. Recently, it has soared more than 200 points, breaking through the 34,000 line, driven by the release of the retail company’s bright results. This indicates that inflation does not affect the company’s bottom line.
As of 10:48 p.m. GMT, the Dow Jones Industrial Average was 34,143.38, up 230.94, or 0.68%. Walmart and Home Depot, Inc. both reported higher-than-expected second-quarter profit and revenue. Target and Loews will report results tomorrow.
While investors are eyeing the release of the minutes of the Federal Reserve’s (Fed) monetary policy meeting on July 26-27 tomorrow. While many Fed officials continued to express their support for a rate hike. Despite the signs that inflation has slowed
The disclosure of US economic numbers today. The US Commerce Department said Homebuilding starts fell 9.6 percent in July to 1.446 million units, the lowest level since February 2021. And below analysts estimates of 1.540 million units from 1.599 million in June. Homebuilding has been hit by a jump in mortgage interest rates. and the price of building materials
Meanwhile, the Fed reported today that Overall U.S. industrial production rose 0.6% in July after being flat in June.
The overall industrial production figures It measures the adaptation of factories, mines and utilities. Factory output rose 0.7 percent in July, while analysts expected a 0.2 percent gain after a 0.4 percent drop in June. Mining production rose 0.7 percent, but utilities. down 0.8%