Home / Latest Finance Apprise News / The blue-chip Dow Jones Industrial Average achieved the sixth consecutive growth
Dow Jones

The blue-chip Dow Jones Industrial Average achieved the sixth consecutive growth

The blue-chip index Dow Jones Industrial Average achieved the sixth consecutive growth after the report for weaker-than-expected inflation in the United States. Dow added nearly 200 points to its value and closed the trading session at 24,739.53 points, with Exxon Mobil and UnitedHealth being the best-performing companies on the index. The broader S&P 500 also finished on green, adding 25.28 points to 2,723.07 points, as telecoms and energy companies added 1% to their value. The technological Nasdaq Composite appreciated by 65.07 points to 7,404.98 points after Apple reached a historic peak.

The technological stocks also supported wider indices. The sector has grown by about 1.3% after Apple, Facebook, Amazon and Alphabet have finished trading upward.

The inflation is growing steadily, but it’s unlikely to come up with the volatility in recent times, according to the analysts. The US Department of Labor announced before the commencement of trade that the consumer price index grew by 0.2% in April, while economists expected a growth of 0.3%. The weaker-than-expected rise calmed down worries about tightening monetary policy from the Federal Reserve at a faster pace than market expectations.

The market expectations for interest rates increase in June and September are 100% and 76% respectively, according to the CME FedWatch. This is in line with the Fed’s interest rate forecasts published in March when the central bank last raised interest rates.

Meanwhile, other data revealed that US unemployment claims remain close to a 48-year low at a level of 211,000.

The 10-year US government bond yields fell slightly to 2.959%.

The oil prices continue their uptrend, after the United States announced its withdrawal from Iran’s nuclear agreement. Shares of energy companies are rising together with oil. The sector has grown by over 9% in the last month.

Shares on Booking Holdings fell by more than 6% after the company announced disappointing forecasts for the next quarter. For the first quarter of the year, however, the company reported profit and earnings over the forecast.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

Check Also


Maersk Line ceases operations in Iran

The Danish company A.P. Moller-Maersk Group plans to cease operations in Iran after the US …

Leave a Reply

Your email address will not be published. Required fields are marked *