Dow Jones Closes Higher Amid Anticipation of US Inflation Data

Dow Jones Closes Higher Amid Anticipation of US Inflation Data

The US stock trading session ended on Monday with mixed indicators, as investors evaluated Moody's latest decisions, in addition to their anticipation of a package of important economic data this week.

Violence in the Middle East caused the value of the dollar and the yen to rise
Exchange rates of the US dollar against the Egyptian pound in Egyptian banks
The dollar is heading towards the low point in about two weeks before US inflation data comes out.
Two Saudi planes arrived in Al-Arish to deliver humanitarian aid to residents of Gaza who are under siege.

The Dow Jones Industrial Average ended the trading session with an increase of 0.15%, or 54 points, recording 34,337 points.

The S&P 500 index fell by 0.10%, or 3 points, to 4,411 points, while the Nasdaq index fell by 0.20%, or 30 points, to 13,798 points.

The Stoxx Europe 600 index managed to rise by 0.75% to reach 446.62 points, after evaluating the European markets.

The British “FTSE” index recorded an increase of 0.90% to 7425 points, while the value of the German “DAX” index increased by 0.75% to reach 15,345 points, and the French “CAC” saw an increase of 0.60% to 7087 points.

The Nikkei index in Japan fell to 32,585 points at the end of daily trading, while the broader Topix index settled at 2,336 points.

 

Benchmark Brent crude futures prices for January delivery rose 1.30%, or $1.09, compared to the previous close, reaching $82.52 per barrel on the oil market.

The prices of US Nymex crude contracts for December delivery recorded an increase of 1.40%, or the equivalent of $1.09, to close at $78.26 per barrel, in light of the improvement in the general performance of the oil markets.

The price of gold rose by 0.65% to reach $1,950.2 per ounce in December, confirming a rise in futures prices for the precious metal by $12.5.

Markets await the release of consumer price inflation data tomorrow, Tuesday, followed by producer price and retail sales data on Wednesday. Markets are also looking forward to an upcoming meeting between the US and Chinese presidents this week, in the hope of easing trade tensions between the two countries.

After the end of Friday's session, Moody's announced that it had lowered its outlook for the US credit rating to "negative" from "stable." This decision came as a result of concerns regarding the fiscal deficit and the rise in interest rates.