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US stocks rose during today’s trading after fluctuation in performance in the session, which was marred by stability at times and decline at other times, but “Wall Street” incurred weekly losses.
Economic data revealed that the “ISM” index of US manufacturing purchasing managers decreased to 53 points in June from 56.1 points in May, while expectations indicated a decrease at 54.6 points.
Fears persist in global markets that the economy will fall into recession, against the backdrop of accelerating monetary tightening by central banks to control inflation.
For his part, Mohamed El-Erian, an economist and analyst with Allianz, said that there are severe risks surrounding markets and economies worldwide, and that the biggest of them is poor liquidity.
The yield on US 10-year Treasury bonds fell below 3%.
At the end of the session, the Dow Jones Industrial Average rose 1.1% (about 322 points) to 31097 points, recording weekly losses of 1.3%, and the broader S&P 500 rose 1.1% (about 40 points) to 3825 points, but It recorded a weekly loss of 2.2%, while the “Nasdaq” rose by 0.9% (about 99 points) to 11,128 points, while it incurred losses this week by 4.1%.