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Dow Jones has celebrated its best day for more than two weeks :: Investor.bg



Dow Jones has achieved its best day for over two weeks

Photo: Reuters

American markets started a week with strong growth in the background of stock appreciation of some troubled technology companies after a sharp fall last week, CNBC writes.

Blue chip index Dow Jones Industrial Average added 354 points to its value and reached the level of 24,640.24 points, which is the strongest growth in more than two weeks. Wide measurements S & P 500 they went up by 1.55% to a level of 2673.45 points. Technological indicator Nasdaq Composite also ended on a green surface with a growth of 2.06% to a level of 7081.85 points.

The book Facebook, Amazon, Apple, Netflix and Google's parent company, alphabet, increased by at least 1%.
Last week, Facebook's share price fell on criticism of how the company ruled using its platform by Russian officials in their attempts to influence the US presidential election. Apple sank last week as investors were worried about slowing iPhone sales

"This is part of the normal process from bottom to bottom. It will take some time before we get out of it," says Bruce McCain, chief investment strategist at Key Private Bank. "But as the economy grows and earnings continue to grow, we have a chance to reach new heights" between the first and second quarters of 2019, he adds. "It will be an alarming time, there is much worry, but as long as the economy remains strong, we must be ok," McCain said.

The index move on Monday comes when it marks its worst week on Thanksgiving Day in 2011, as the sale of technology stocks and oil prices put traders in an unbiased risk regime. Only Friday oil prices fell by about 8%.

The book General Motors it grew 4% after the company announced plans to reduce production in many factories and reduce the number of employees by 15%. Cost control plan is more drastic than investor expectations.

Retail sales prices have risen, while Black Friday online sales have reached record $ 6.22 billion, Adobe Analytics says. Record sales rose by 23.6 percent compared to last year. SPDR S & P Retail Retail ETF (XRT) grew by 2% thanks to growth GameStop, Amazon and L mark.

Investors also expect Federal Reserve President Jerome Powell's statement later this week. He has to talk to the New York Economic Club on Wednesday. By the time of the latest sale, investors were concerned about the future of monetary policy at a time when the central bank strengthened its approach. The FED is expected to raise rates in December after tightening monetary policy three times earlier this year. The next year, the central bank should raise interest three times.

Investors will also conduct the policy this week, and the dominant themes will be the G20 Summit in Argentina and Brexit. Summit leaders of the world's strongest economies will be summoned by US President Donald Trump and his Chinese counterpart Cz Jinpin at a time of intense trade pressure between the two countries. Simultaneously Britain has been supported by the European Union to withdraw from the block.

On the bond market, the yield on 10-year US government bonds it grew to 3.068%, and to 30-year bonds grew to 3.332%.

In foreign exchange markets dollar index, which measures the US dollar against the basket of six major currencies, grew by 0.17 percent to 97.08 points. Euro dropped by 0.12% to a level of $ 1,1326 per euro. It is yen the dollar appreciated by 0.54% to 113.55 yen per dollar.

In the oil commodity market, it grew as a way to offset some of the serious losses at the previous session, although growth was limited by uncertainty over the growth of the global economy and new signs of increased supply.

Benchmark futures Brent rose $ 1.67 to $ 60.47 a barrel after falling 6 percent on Friday. American Light Oil Contracts (WTI) added $ 1.21 to its value at $ 51.63 per barrel after a decline of 7.7 percent on Friday.

American futures on gold it reached $ 1222.40 per troy ounce.


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