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