Wall Street rises to new record – Wall Street – Stock Exchange



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US stock markets rose on Thursday, after ending up on positive ground yesterday, while the Federal Reserve indicated possible interest rate cuts later this year.

At the time of closing, the story was written. The broad S & P 500 index was never at a higher level at the end of the trading session at 2,954.18 points.

According to FedWatch's CME tool, the market now reaches a 100 percent probability for Fed's July cut rates, CNBC reports.

– Markets are based on numbers and perception. If the market view is that the interest rate is reduced, it will increase the markets, says UBS 'Kathy Entwistle, for the channel.

Energy and technology are among the sectors that have contributed most to the recovery.

  • Dow Jones down 0.94 percent
  • S & P 500 up to 0.95 percent
  • Nasdaq rose 0.80%

Go oil

The situation in the Middle East worsened on Thursday when an American military throne was shot down by Iran's Revolutionary Guards. Iran justified the drone's shooting in Iran's airspace.

The Middle East is the most important area in the world for oil production, and turmoil in the region could hurt exports and give less oil to the market.

Donald Trump went to Twitter to write that Iran had made a big mistake.

The focus was followed by the strongest rise in oil prices in a single day since January.

Oil prices generally were $ 64.79, but since then have returned to $ 64.52. There is an increase of 3.66% for the day.

– If an armed conflict can double or triple the price of oil is hard to say, Bjarne Schieldrop, SEB's raw material analyst, told E24 on Thursday.

Exxon ended 1.70% and Chevron rose 1.10%.

The energy sector in the S & P 500 rose 2.21%.

Rocket Intrusion Messaging Service

In the morning US newspaper, there was a great deal of excitement about the listing of the Slack corporate news service on the New York Stock Exchange (NYSE).

Shortly after lunch, the first stock trading was $ 38.50, which, according to the Wall Street Journal, valued the company at $ 23.2 billion, or about $ 200 billion.

The price closed at $ 38.60. There is an increase of more than 48% over the reference price of $ 26, which was established by the NYSE as an estimated value before the start of the business.

The company ran a direct listing, which means they did not collect new money in the listing by issuing new shares.

Chief Executive Stewart Butterfield explained the direct route that the company does not need new capital.

It is very unusual to make a direct listing. Of the biggest technology companies, Spotify is one of the exceptions that made it.

– Looking at Spotify, the listing shows that it takes some time for the action to be established following a direct listing, says Kathleen Smith of Renaissance Capital, Reuters.

Slack lost $ 138.9 million and had revenue of $ 400.55 million last year. At the end of the year, the messaging service reported that they had more than 10 million users daily.

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