Home » Global Market Recap: U.S. Stocks Close Higher, European Markets Rise, and International Oil Prices Fall

Global Market Recap: U.S. Stocks Close Higher, European Markets Rise, and International Oil Prices Fall

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U.S. Stock Market and European Markets Close on a High, Commodity Market Sees Decline

On Thursday, the U.S. stock market closed slightly higher with the three major U.S. stock indices reporting gains. The Dow Jones index rose 163.51 points to close at 34991.21 points, an increase of 0.47%. Additionally, the Nasdaq index rose 9.46 points to close at 14103.84 points, an increase of 0.07%, and the S&P 500 index saw a rise of 7.18 points to close at 4502.88 points, an increase of 0.16%.

Big technology stocks saw varying movements, with companies like Intel, Tesla, and Netflix rising, while Nvidia, Amazon, and Meta experienced decline. Notably, Nvidia’s tenth consecutive rise was halted, while Microsoft continued to hit a new closing high.

Chinese concept stocks also saw upward trends, with the Nasdaq China Golden Dragon Index rising by 2.87%. Companies like Tencent Music, JD.com, and Vipshop witnessed significant increases in their stock prices.

In Europe, the major stock indices also closed up collectively. The Financial Times 100-stock average price index of the London stock market closed at 7486.91 points, an increase of 46.44 points, while the CAC40 index of the Paris stock market in France closed at 7209.61 points, with an increase of 23.93 points. The DAX index of the Frankfurt stock market in Germany closed at 15748.17 points, an increase of 133.74 points.

However, the commodity market saw a decline with international oil prices falling and international gold prices also witnessing a dip. The price of light crude oil futures for delivery in December on the New York Mercantile Exchange fell by US$1.60, and London Brent crude oil futures for delivery in January 2024 also saw a decrease in prices.

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Other important global market information includes President Xi Jinping’s meeting with U.S. President Joe Biden, a potential strike in the U.S. auto industry, and the consideration of an export ban on Novo Nordisk’s diabetes drug Ozempic by German regulators.

On a technological front, Microsoft unveiled its first self-developed AI chip, while Amazon launched Astro for Business, an intelligent robot for small and medium-sized businesses. Additionally, JD.com announced changes in its retail sub-group and its expectations for normal growth next year.

Finally, U.S. solid-state battery technology developer SolidPower, Inc. delivered its first samples to BMW, marking an important milestone in the development of solid-state batteries for electric vehicles.

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