Market Conditions & Stock Market Analysis for Jan 17, 2024: Dow Jones, Oil, Gold, Currency Markets

2024-01-18 00:32:00

Index and stock market conditions, oil, gold, and foreign currency markets as of 17 Jan. 2024

— The Dow Jones New York Stock Exchange Index closed negative on Wednesday (Jan. 17) after the United States revealed stronger retail sales than expected. This makes investors worried that the Federal Reserve (Fed) may not cut interest rates at its March meeting as the market had previously expected.

The Dow Jones Industrial Average closed at 37,266.67 points, down 94.45 points or -0.25%, the S&P 500 Index closed at 4,739.21 points, down 26.77 points or -0.56%, and the Nasdaq Index closed at 14,855.62 points, down 88.73 points or -0.59%.

— European stock markets closed lower on Wednesday (Jan. 17), pressured by comments from European Central Bank (ECB) officials that dashed hopes for a rate cut. And the market was also affected by Chinese economic data that was weaker than expected.

The STOXX 600 Index closed at 467.71 points, down 5.35 points or -1.13%.

The CAC-40 index, the French stock market, closed at 7,318.69 points, down 79.31 points, or -1.07%, the DAX index, the German stock market, closed at 16,431.69 points, down 139.99 points, or -0.84%, and the FTSE 100 index, the London stock market, closed at 7,446.29 points, down 112.05 points, or -1.48%

— The London stock market closed lower on Wednesday (Jan. 17), hitting its lowest level in seven weeks, after British data on stronger-than-expected inflation shattered hopes of a rate cut this year. And weaker-than-expected Chinese economic data pressured commodity-related stocks.

The FTSE 100 London Stock Exchange Index closed at 7,446.29 points, down 112.05 points or -1.48%.

— West Texas Crude Oil (WTI) New York futures closed positive on Wednesday (Jan. 17) after reports that cold weather conditions were affecting oil production in some areas of the United States. decreased, however, oil prices decreased during the positive period. After China revealed gross domestic product (GDP) numbers that were lower than expected. This makes investors worried about the outlook for energy demand in China.

The WTI crude oil contract will be delivered in February. rose 16 cents, or 0.22%, to close at $72.56/barrel.

As for the Brent crude oil contract (BRENT), delivered in March. fell 41 cents, or 0.52%, to close at $77.88/barrel.

— New York gold futures closed down for a second day in a row on Wednesday (Jan. 17), with the market pressured by concerns that the Federal Reserve (Fed) may hold interest rates high for a long time. long After the United States revealed stronger-than-expected retail sales

The COMEX (Commodity Exchange) gold contract will be delivered in February. fell $23.70, or 1.17%, to close at $2,006.50/ounce.

Silver contract for March delivery fell 42.40 cents, or 1.84%, to close at $22.669/ounce.

Platinum contract for delivery in April. fell $14.80 or 1.64% to close at $889.60/ounce.

Palladium contract for delivery in March. fell $18.40 or 1.96% to close at $919.70/ounce.

— The US dollar continues to strengthen. against major currencies in trading on the New York Forex Exchange on Wednesday (Jan. 17) after the United States revealed stronger retail sales than expected. This makes investors expect that the Federal Reserve (Fed) will not cut interest rates at its March meeting.

The dollar index, which measures the dollar’s movement against six major currencies, rose 0.09% to 103.450.

The New York Stock Exchange DJIA index closed at 37,266.67 points, down 94.45 points, -0.25%.

The S&P500 New York Stock Exchange index closed at 4,739.21 points, down 26.77 points, -0.56%.

The NASDAQ New York Stock Exchange index closed at 14,855.62 points, down 88.72 points, -0.59%.

The FTSE 100 London Stock Exchange Index closed at 7,446.29 points, down 112.05 points, -1.48%.

The French stock market CAC-40 index closed at 7,318.69 points, down 79.31 points, -1.07%.

The German stock market DAX index closed at 16,431.69 points, down 139.99 points, -0.84%.

The S&P/ASX 200 Australian stock market index closed at 7,393.10 points, down 21.70 points, -0.29%.

The Australian stock market ALL ORDINARIES index closed at 7,622.50 points, down 24.60 points, -0.32%.

The Japanese stock market NIKKEI 225 index closed at 35,477.75 points, down 141.43 points, -0.40%.

The KOSPI South Korean stock market index closed at 2,435.90 points, down 61.69 points, -2.47%.

The TAIEX index of the Taiwan stock market closed at 17,161.79 points, down 185.08 points, -1.07%.

The SSE Composite Index of the Chinese stock market closed at 2,833.62 points, down 60.37 points, -2.09%.

The HSI Hong Kong Stock Exchange Index closed at 15,276.90 points, down 589.02 points, -3.71%.

The Indian stock market SENSEX index closed at 71,500.76 points, down 1,628.02 points, -2.23%.

The Jakarta Composite Index of the Indonesian stock market closed at 7,200.64 points, down 42.15 points, -0.58%.

The PSE Composite Index of the Philippine Stock Market closed at 6,572.51 points, down 64.49 points, -0.97%.

FBMKLCI Malaysian stock market index closed at 1,491.21 points, down 2.66 points, -0.18%.

The Singapore Stock Exchange FTSE STI Index closed at 3,142.22 points, down 42.77 points, -1.34%.

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