The U.S. Stock Market Hits New Highs
By Oriental Fortune, February 1, 2023
The U.S. stock market opened higher and continued to rise, with the Dow and S&P hitting new closing highs. As of the close, the Dow Jones Industrial Average rose 224.02 points to close at 38,333.45 points, an increase of 0.59%. The S&P 500 stock index rose 36.96 points to close at 4,927.93 points, an increase of 0.76%. The Nasdaq Composite Index also rose 172.68 points to close at 15,628.04 points, an increase of 1.12%.
The market is focusing on earnings reports from several large technology companies, the Federal Reserve’s monetary policy meeting, and Friday’s U.S. non-farm payrolls data for January. Most large technology stocks rose, with Tesla, Nvidia, Amazon, Meta, and Microsoft seeing increases. However, iRobot fell more than 8% as Amazon terminated its merger plan with the company due to opposition from EU antitrust agencies.
In the commodity market, international oil prices fell, while the price of gold rose.
In European markets, the Financial Times 100-stock average price index of the London stock market closed at 7,632.74 points, down 2.35 points from the previous trading day. The CAC40 index of the Paris stock market in France closed at 7,640.81 points, up 6.67 points from the previous trading day. The DAX index in Frankfurt, Germany closed at 16,941.71 points, down 19.68 points from the previous trading day.
The Nasdaq China Golden Dragon Index fell 1.03%, with most popular Chinese concept stocks experiencing declines.
The U.S. stock market will continue to be closely watched in the coming days as it responds to various global events and data releases.
Source: Oriental Fortune Choice data
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