The Economic Information Agency reported on the 30th that US major indices closed lower on Tuesday (29th), dragged by rising US Treasury yields and weakening consumer confidence. Investors are also awaiting inflation and employment data due this week to assess the Fed's future interest rate path.
The Dow Jones Industrial Average closed down 131.59 points, or 0.26%, at 51,349.92; the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84; the Nasdaq Composite dropped 22.84 points, or 0.09%, to 26,797.54.
US bond yields continued to rise, with the 30-year Treasury yield briefly reaching 5.6206%, the highest since June 2002; the benchmark 10-year yield rose to 5.293%, the highest since June 2007. High interest rates increase corporate financing costs and suppress the attractiveness of equities.
On the economic front, US consumer confidence in September fell to a record low over 12 years, reflecting weakening household expectations for the future business environment and labor market; job openings in August decreased by 256,000 to 70.79 million, below market expectations.
Major tech stocks moved mixed. SpaceX (US.SPCX) rose 2.6%, Tesla (US.TSLA) fell 1.3%, Nvidia (US.NVDA) declined 0.7%, Meta (US.META) gained 3.2%, Apple (US.AAPL) dropped 2.7%, Google (US.GOOG) fell 0.5%, and Amazon (US.AMZN) edged up 0.2%. The market is also watching news that AI firm Anthropic is planning an IPO, reportedly targeting a valuation exceeding $2 trillion.
Markets are now focusing on the Personal Consumption Expenditures (PCE) price index due Wednesday (30th), along with a series of labor market data this week. Fed officials remain divided on further rate hikes, with New York Fed President Williams saying the central bank has time to observe data before deciding on the timing of hikes, while other officials suggest further hikes may still be needed.
*Dollar index briefly rose to 101.61*
In foreign exchange markets, the dollar remained strong. The dollar index briefly rose to 101.61, the highest since late June, and ended the day up 0.2% at 101.38. The dollar-yen traded narrowly above 157, ending the day at 157.21, down 0.1%. The euro continued under pressure against the dollar, falling to around 1.134, down about 0.2%, hitting a near three-month low.
Gold prices rebounded from lows, with spot gold rising about 1.3% to $4,169 per ounce; New York futures gold rose about 0.8% to $4,203.
Oil prices fell on Tuesday as markets digested news of gradually recovering Middle East oil exports. Brent crude dropped 1.8% to around $96.05 a barrel, while New York crude fell 3.6% to $89.24. Saudi Arabia resumed crude shipments from the Red Sea port of Yanbu, and throughput on the east-west pipeline also increased, improving market expectations for Middle East supply. (kk)
The Dow Jones Industrial Average closed down 131.59 points, or 0.26%, at 51,349.92; the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84; the Nasdaq Composite dropped 22.84 points, or 0.09%, to 26,797.54.
US bond yields continued to rise, with the 30-year Treasury yield briefly reaching 5.6206%, the highest since June 2002; the benchmark 10-year yield rose to 5.293%, the highest since June 2007. High interest rates increase corporate financing costs and suppress the attractiveness of equities.
On the economic front, US consumer confidence in September fell to a record low over 12 years, reflecting weakening household expectations for the future business environment and labor market; job openings in August decreased by 256,000 to 70.79 million, below market expectations.
Major tech stocks moved mixed. SpaceX (US.SPCX) rose 2.6%, Tesla (US.TSLA) fell 1.3%, Nvidia (US.NVDA) declined 0.7%, Meta (US.META) gained 3.2%, Apple (US.AAPL) dropped 2.7%, Google (US.GOOG) fell 0.5%, and Amazon (US.AMZN) edged up 0.2%. The market is also watching news that AI firm Anthropic is planning an IPO, reportedly targeting a valuation exceeding $2 trillion.
Markets are now focusing on the Personal Consumption Expenditures (PCE) price index due Wednesday (30th), along with a series of labor market data this week. Fed officials remain divided on further rate hikes, with New York Fed President Williams saying the central bank has time to observe data before deciding on the timing of hikes, while other officials suggest further hikes may still be needed.
*Dollar index briefly rose to 101.61*
In foreign exchange markets, the dollar remained strong. The dollar index briefly rose to 101.61, the highest since late June, and ended the day up 0.2% at 101.38. The dollar-yen traded narrowly above 157, ending the day at 157.21, down 0.1%. The euro continued under pressure against the dollar, falling to around 1.134, down about 0.2%, hitting a near three-month low.
Gold prices rebounded from lows, with spot gold rising about 1.3% to $4,169 per ounce; New York futures gold rose about 0.8% to $4,203.
Oil prices fell on Tuesday as markets digested news of gradually recovering Middle East oil exports. Brent crude dropped 1.8% to around $96.05 a barrel, while New York crude fell 3.6% to $89.24. Saudi Arabia resumed crude shipments from the Red Sea port of Yanbu, and throughput on the east-west pipeline also increased, improving market expectations for Middle East supply. (kk)
