US indices close in the green Zone and Nikkei closes negatively

US stock closes rose on Wednesday’s trading, and traders assessed the minutes of the Fed meeting on May 3-4

Evest follows market developments in the following report

topic

Mass rise of US indices

Oil continues to make profits

Nikkei closes lower

Mass rise of US indices

The Dow Jones Industrial Index rose by 191.66 points (0.6%) by the end of trading today, Wednesday to 32120.28 points
Standard & Poor’s 500 rose by 37.25 points (0.95%) to 3978.73 points
The Nasdaq Composite Index rose by 170.29 points (1.51%) to 11434.74

The minutes showed that the US central bank remains open to reconsidering its tough stance on rate hikes, MarketWatch writes

Most organizer leaders believe that a 50-basis point increase in the prime rate is “likely to be appropriate in the next few meetings”
as part of the fight against rapid inflation, the minutes state In the meantime
after a series of expected interest rate hikes, Fed officials will reassess the state of the economy to determine how much increase may be needed

The Fed raised the rate after the results of the May meeting by 50 basis points to 0.75-1% annually
The rate was immediately raised by 50 basis points, for the first time since 2000
At a press conference following the meeting, US Central Bank Chairman Jerome Powell said
that the Fed would consider raising the rate by 50 basis points
However, the rate will immediately increase by 75 basis points at the next few meetings

Dick’s Sporting Goods fell by 9.7%. The US sports goods retailer cut profits and revenue in the first quarter of fiscal 2022
and although the performance was better than market expectations
the company’s stocks fell sharply due to a worsening full-year outlook

Oil continues to make profits

The oil market continues to grow after rising the previous day as a result of US Department of Energy data
which showed a decline in U.S. oil and gasoline inventories before the auto season began

The price of July Brent crude futures on the London Stock Exchange Futures was $114.55 per barrel on Thursday
$0.52 (0.46%) higher than the closing price of the previous session
As a result of Wednesday’s trading, these futures rose by $0.47 (0.4%) to $114.03 per barrel

The price of West Texas Intermediate oil futures for July in electronic trading on the New York Mercantile Exchange
(NYMEX) at this time is $110.98 per barrel, $0.65 (0.59%) higher than the final value of the previous session
On Wednesday, the cost of these futures rose $0.56 (0.5%) to $110.33 per barrel

According to the U.S. Department of Energy

the country’s commercial oil reserves for the week ending
May 20 fell by 1.02 million barrels – to 419.8 million barrels
Experts predicted an average decline of 2.13 million barrels

Inventories at the Cushing terminal, where oil traded on the NYMEX stock exchange
fell by 1.1 million barrels. US oil production remained at 11.9 million barrels

Gasoline commodity inventories fell by 482 thousand barrels and distillates rose by 1.66 million barrels
Gasoline inventories are expected to decline by 2.13 million barrels, while distillate inventories to rise by 1 million barrels

“The oil market is still tight and oil prices are likely to continue to rise,” Bloomberg quoted one analyst

Earlier this week, there was information that US President Joe Biden’s administration was considering the possibility of restricting
the export of petroleum products from the country to limit the rising prices of gasoline and diesel fuel

According to experts, according to experts: “At present
the United States is not rushing this approach and is focusing on releasing oil from the strategic reserve

“Although selling oil from the reserve may reduce oil prices slightly
this move will not help overcome gasoline shortages,” Market Watch quoted an expert

Nikkei closes lower

Tokyo’s main Nikkei 225 index closed lower on Thursday on concern about inflationary pressures due to the war in Ukraine
but with few new events moving the market

The Nikkei 225 closed lower 0.27 percent, or 72.96 points, at 26604.84
while the broader Topix index closed 0.05 percent, or 1.00 points, higher at 1877.58

The dollar posted 127.29 yen in Asia, compared to 127.26 yen in New York late Wednesday

Global markets rebounded overnight after the US Federal Reserve released minutes of a meeting at which policymakers agreed
as investors predicted, that they needed to raise interest rates by 50 basis points at the next two meetings

Japan’s Nikkei fell below 27,000 as U.S. futures fell rapidly

According to experts, market players are now looking to release US GDP data later in the day

However, inflationary pressures caused by the war in Ukraine continued to alarm investors

In Tokyo, Mitsubishi Electric fell by 4.15 percent to 1363.5 yen, Advantest for the chip testing equipment industry
fell by 3.63 percent to 8220 yen and Takeda Pharmaceutical fell 0.66 percent to 3762 yen

Toyota rose by 1.68% to 2.082 yen, SoftBank rose by 1.22% to 5164 yen and Sony rose by 0.54% to 11265 yen

US indices close in the green Zone

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