The three major american indices closed at all-time high on friday

Autor: Financial Market
Timp de citit: 2 minute

The market in the United States closed higher on friday, the different market sectorspushed the indices to have excellent upward movements.

The Dow Jones ended the week with great upside movement. On Friday, 01/19/2024, the index generated a gain of around 400 points. The
futures of the 30 strongest industrial companies in the United States generated a new all-time high.

Likewise, the Nasdaq, one of the main equity indexes, had the same rally as the previous index, ending Friday with a gain of more than 1%.

The US100 also generated an all-time high, reaching 17,300 points. Also, the S&P 500 had the same movement as the previous indexes, reaching an all-time high. The US500 index closed 50 points higher, since the opening of the New York market.

However, these large movements could have been caused by different economic and political factors.

This Friday was positive due to the decision of the U.S. Congress to approve this Thursday, a bill to extend the operation of the federal government until March 2024.

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Thanks to this decision, the markets were quite active and very positive. Another possible reason for these large increases is that investors have lowered their expectations that the Federal Reserve will start cutting interest rates in the first quarter of 2024.

This change is due to data indicating the strength of the U.S. economy. Investors now see a 54% chance that the Fed’s first cut will occur in March, down from 77% a week ago.

This week they announced different macroeconomic data regarding the country. On Wednesday, December 2023 Retail Sales (Monthly) jumped to 0.6% versus a forecast of 0.4%.

Thursday’s new jobless claims were much better than last week, 187k vs. 203k. In conclusion, the US indices have had an interesting rebound compared to the first days of January 2024, where significant declines were seen in the 3 major benchmark equity indices in the financial markets.