Ending the day on a high note, the American stock market marked an increase, with Dow Jones leading the climb by 0.25%.
July 13, 2023 4:21 am
At the closing bell on the New York Stock Exchange, Dow Jones shone with a noticeable growth of 0.25%, while the S&P 500 index bloomed by 0.74%, and NASDAQ Composite lit up with an increase of 1.15%. By the end of the day, the growth medalists among the Dow Jones components were Salesforce Inc (NYSE:CRM) shares, gaining 6.24 points (2.82%) and closing the day at the height of 227.41. Quotations of Intel Corporation (NASDAQ:INTC) soared by 0.68 points (2.03%), ending trading at a mark of 33.97. Papers of Goldman Sachs Group Inc (NYSE:GS) marked an increase of 5.52 points (1.72%), closing at the level of 326.40. There were also losers – shares of Cisco Systems Inc (NASDAQ:CSCO) became cheaper by 1.38 points (2.65%), ending the day at the level of 50.74. Shares of UnitedHealth Group Incorporated (NYSE:UNH), on the contrary, showed an increase of 11.02 points (2.38%), closing at a mark of 451.87. While International Business Machines (NYSE:IBM) securities lost 1.60 points in price (1.19%) and closed the day at the mark of 132.84.
And here are the day’s winners among the S&P 500 index components – these are Domino’s Pizza Inc (NYSE:DPZ) shares, which appreciated by 11.09% and reached the mark of 388.59, Enphase Energy Inc (NASDAQ:ENPH), which rose by 5.19% and closed at the level of 182.80, and shares of Invesco Plc (NYSE:IVZ), which surprised with an increase of 4.84%, ending the day at the mark of 18.41.
Returning to the participants who lost in the battle for profit, Centene Corp (NYSE:CNC) shares became noticeable participants in the decline, losing 5.84% in price and closing at the level of 63.80. Elevance Health Inc (NYSE:ELV) shares decreased by 4.78%, ending the trading day at the mark of 414.15. And Cigna Corp (NYSE:CI) quotes decreased by 4.63%, reaching the mark of 268.69. However, among the NASDAQ Composite index components, there were also bright rising stars. Petros Pharmaceuticals Inc (NASDAQ:PTPI) shares surprised the market with their growth of 93.37%, reaching the mark of 3.79. Healthcare Triangle Inc (NASDAQ:HCTI) shares shot up by 90.18%, closing the trading session at the mark of 6.20. And NFT Gaming Company Inc (NASDAQ:NFTG) shares soared by 91.40%, setting the final mark at 1.34.
One should not forget about the companies that experienced hard times today. Painreform Ltd (NASDAQ:PRFX) shares touched the depths, losing 51.58% in price and ending the day at the mark of 7.99. CBL International Ltd (NASDAQ:BANL) shares lost 43.89% in value, closing the session at the position of 2.80. And Yellow Corp (NASDAQ:YELL) quotes dropped 29.55% to the mark of 0.93.
On the New York Stock Exchange, the number of securities that rose in price (2126) exceeded the number of those that closed in the red (845), and quotes of 60 shares remained practically unchanged. On the NASDAQ stock exchange, 2209 companies rose in price, 1312 fell, and 148 remained at the level of the previous close.
The annual inflation rate in the US for June slowed down to 3% from 4% a month earlier, even falling below analysts’ forecasts of 3.1%. In monthly terms, consumer prices in June rose by 0.2% after an increase of 0.1% in the previous month. Core inflation, measured in an annual equivalent, slowed down in June to 4.8% from 5.3% in May. These consumer price data are closely watched by the markets as an important indicator of possible further steps by the Federal Reserve System (FRS).
Following the June meeting, the central bank keeps the key rate at the level of 5-5.25%, but emphasizes the possibility of its further increase. According to CME Group data, almost all (over 90%) of the surveyed analysts expect the Fed to raise the rate by 25 basis points in July. Interestingly, about 65% of experts predict only one rate increase of 25 basis points in the period from July to November.
Although the Fed sometimes gets its forecasts wrong, the final say on rates still lies with it. Despite ongoing inflation surprises, FOMC members maintain a resolute course, not forgetting to underline that the fight against inflation is not yet over. After the fresh inflation report, the dollar index is at its lowest level since April 2022, having lost more than 12% from its peak in September of last year. Such a drop intensifies inflationary pressure, which is likely to cause dissatisfaction from the Central Bank.
The CBOE volatility index, calculated based on data from trading options on the S&P 500, fell by 8.76%, dropping to a mark of 13.54. Gold futures for August delivery rose by 1.37%, or by 26.50, reaching the mark of $1,000 per troy ounce. While other commodities, for example, WTI crude oil futures for August delivery, increased in price by 1.48%, or by 1.11, to $75.94 per barrel. Brent oil futures for September delivery rose by 1.15%, or 0.91, to $80.31 per barrel. Meanwhile, in the currency exchange market, the EUR/USD pair increased by 1.18%, reaching the mark of 1.11, while the USD/JPY pair fell by 1.33%, showing a level of 138.51. Futures on the dollar index fell by 1.17%, to the mark of 100.22.
The material has been provided by InstaForex Company – www.instaforex.com
At the closing bell on the New York Stock Exchange, Dow Jones shone with a noticeable growth of 0.25%, while the S&P 500 index bloomed by 0.74%, and NASDAQ Composite lit up with an increase of 1.15%.
By the end of the day, the growth medalists among the Dow Jones components were Salesforce Inc (NYSE:CRM) shares, gaining 6.24 points (2.82%) and closing the day at the height of 227.41. Quotations of Intel Corporation (NASDAQ:INTC) soared by 0.68 points (2.03%), ending trading at a mark of 33.97. Papers of Goldman Sachs Group Inc (NYSE:GS) marked an increase of 5.52 points (1.72%), closing at the level of 326.40.
There were also losers – shares of Cisco Systems Inc (NASDAQ:CSCO) became cheaper by 1.38 points (2.65%), ending the day at the level of 50.74. Shares of UnitedHealth Group Incorporated (NYSE:UNH), on the contrary, showed an increase of 11.02 points (2.38%), closing at a mark of 451.87. While International Business Machines (NYSE:IBM) securities lost 1.60 points in price (1.19%) and closed the day at the mark of 132.84.
And here are the day’s winners among the S&P 500 index components – these are Domino’s Pizza Inc (NYSE:DPZ) shares, which appreciated by 11.09% and reached the mark of 388.59, Enphase Energy Inc (NASDAQ:ENPH), which rose by 5.19% and closed at the level of 182.80, and shares of Invesco Plc (NYSE:IVZ), which surprised with an increase of 4.84%, ending the day at the mark of 18.41.
Returning to the participants who lost in the battle for profit, Centene Corp (NYSE:CNC) shares became noticeable participants in the decline, losing 5.84% in price and closing at the level of 63.80. Elevance Health Inc (NYSE:ELV) shares decreased by 4.78%, ending the trading day at the mark of 414.15. And Cigna Corp (NYSE:CI) quotes decreased by 4.63%, reaching the mark of 268.69.
However, among the NASDAQ Composite index components, there were also bright rising stars. Petros Pharmaceuticals Inc (NASDAQ:PTPI) shares surprised the market with their growth of 93.37%, reaching the mark of 3.79. Healthcare Triangle Inc (NASDAQ:HCTI) shares shot up by 90.18%, closing the trading session at the mark of 6.20. And NFT Gaming Company Inc (NASDAQ:NFTG) shares soared by 91.40%, setting the final mark at 1.34.
One should not forget about the companies that experienced hard times today. Painreform Ltd (NASDAQ:PRFX) shares touched the depths, losing 51.58% in price and ending the day at the mark of 7.99. CBL International Ltd (NASDAQ:BANL) shares lost 43.89% in value, closing the session at the position of 2.80. And Yellow Corp (NASDAQ:YELL) quotes dropped 29.55% to the mark of 0.93.
On the New York Stock Exchange, the number of securities that rose in price (2126) exceeded the number of those that closed in the red (845), and quotes of 60 shares remained practically unchanged. On the NASDAQ stock exchange, 2209 companies rose in price, 1312 fell, and 148 remained at the level of the previous close.
The annual inflation rate in the US for June slowed down to 3% from 4% a month earlier, even falling below analysts’ forecasts of 3.1%. In monthly terms, consumer prices in June rose by 0.2% after an increase of 0.1% in the previous month. Core inflation, measured in an annual equivalent, slowed down in June to 4.8% from 5.3% in May. These consumer price data are closely watched by the markets as an important indicator of possible further steps by the Federal Reserve System (FRS).
Following the June meeting, the central bank keeps the key rate at the level of 5-5.25%, but emphasizes the possibility of its further increase. According to CME Group data, almost all (over 90%) of the surveyed analysts expect the Fed to raise the rate by 25 basis points in July. Interestingly, about 65% of experts predict only one rate increase of 25 basis points in the period from July to November.
Although the Fed sometimes gets its forecasts wrong, the final say on rates still lies with it. Despite ongoing inflation surprises, FOMC members maintain a resolute course, not forgetting to underline that the fight against inflation is not yet over.
After the fresh inflation report, the dollar index is at its lowest level since April 2022, having lost more than 12% from its peak in September of last year. Such a drop intensifies inflationary pressure, which is likely to cause dissatisfaction from the Central Bank.
The CBOE volatility index, calculated based on data from trading options on the S&P 500, fell by 8.76%, dropping to a mark of 13.54.
Gold futures for August delivery rose by 1.37%, or by 26.50, reaching the mark of $1,000 per troy ounce. While other commodities, for example, WTI crude oil futures for August delivery, increased in price by 1.48%, or by 1.11, to $75.94 per barrel. Brent oil futures for September delivery rose by 1.15%, or 0.91, to $80.31 per barrel.
Meanwhile, in the currency exchange market, the EUR/USD pair increased by 1.18%, reaching the mark of 1.11, while the USD/JPY pair fell by 1.33%, showing a level of 138.51.
Futures on the dollar index fell by 1.17%, to the mark of 100.22.
The material has been provided by InstaForex Company – www.instaforex.com
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