Global stocks rose and long-term US bond yields simultaneously fell on Monday (29/07/24) trading, at the start of a week that will be characterized by financial reports and three meetings of the world’s central banks, which could possibly make the United States and the United Kingdom open the door to interest rate cuts.
US GDP & INFLATION DATA MANAGED TO SAVE THE DJIA INDEX BUT FAILED TO KEEP TECH STOCKS FROM FURTHER SLIDE.
The US Federal Reserve’s favorite inflation benchmark, the PCE PRICE INDEX data, rose 0.2% on a monthly basis in June and 2.6% on an annual basis, roughly in-line with expectations.
Wall Street’s major indexes ended higher on Friday trading (07/26/24) on the back of buybacks in the Technology sector especially in large stocks that were hit by a sell-off at the beginning of last week, as well as the release of PCE PRICE INDEX Inflation data encouraging optimism that the Federal Reserve will soon start lowering interest rates. On Friday, the S&P 500 gained 1.11%, while the Nasdaq Composite rallied 1.03%, while the Dow Jones Industrial Average Index shot up 654.27 points, or 1.64%, back above the psychological 40,000 level.
Data showed that the US economy grew stronger than expected in the second quarter, helped by solid growth in consumer spending and business investment, while inflationary pressures eased, so expectations of a Federal Reserve rate cut in September remain intact.
Most global stock markets fell again in volatile trading on Thursday, adding to losses after a Tech sector-led sell-off in the previous session, while the Japanese Yen was flat after hitting a 2.5-month high against the US Dollar.
CBOE VOLATILITY index, Wall Street’s “fear index” closed at 18.04, the highest point since April. Even a more dovish call from one of the Fed’s notoriously conservative officials was unable to provide support to the markets.
The S&P500 and NASDAQ fell sharply at the close of trading on Wednesday (24/07/24), the biggest daily decline since 2022 triggered by the collapse of Tech stocks following disappointing earnings reports from megacaps Alphabet & Tesla.
Perseroan telah berdiri selama lebih dari 24 tahun dan telah berpengalaman memproduksi sarang burung walet kualitas terbaik ke seluruh dunia. Perseroan didirikan pada tahun 2000 sebagai bisnis keluarga. Perseroan memiliki pabrik yang beralamat di Terboyo Industrial Park, Semarang dengan dukungan profesional-profesional muda bersemangat juang tinggi.
