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12.01.202304:16 Forex Analysis & Reviews: US stock market closes higher, Dow Jones gains 0.80%

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Exchange Rates 12.01.2023 analysis

At the close of the New York Stock Exchange, the Dow Jones was up 0.80%, the S&P 500 was up 1.28% and the NASDAQ Composite was up 1.76%.

According to forecasts, annual inflation in the US slowed to 6.5% from 7.1% in November. Analysts note that the expected slowdown in inflation, coupled with an improvement in the situation in supply chains and an easing of covid restrictions in China, creates the basis for optimism in the markets. The publication of the consumer price index is expected on Thursday.

The leading performer among the Dow Jones index components in today's trading was Microsoft Corporation, which gained 6.92 points or 3.02% to close at 235.77. Quotes of Home Depot Inc rose by 8.37 points (2.61%), closing the auction at 329.00. Apple Inc rose 2.76 points or 2.11% to close at 133.49.

The least gainers were shares of Verizon Communications Inc, which shed 0.77 points or 1.84% to end the session at 41.18. Salesforce Inc was up 1.72% or 2.54 points to close at 144.90, while Procter & Gamble Company was down 0.81% or 1.23 points to close at 150. .66.

Leading gainers among the S&P 500 index components in today's trading were Bio-Rad Laboratories Inc, which rose 6.53% to 461.17, Etsy Inc, which gained 6.11% to close at 134.69. as well as SolarEdge Technologies Inc, which rose 5.84% to close the session at 302.15.

The least gainer was Teleflex Incorporated, which shed 7.60% to close at 239.77. Shares of DexCom Inc lost 4.26% and ended the session at 106.16. Quotes of Intuitive Surgical Inc decreased in price by 4.20% to 259.96.

Leading gainers among the components of the NASDAQ Composite in today's trading were Atlis Motor Vehicles Inc, which rose 276.12% to 10.08, Broadwind Energy Inc, which gained 96.90% to close at 4.45. as well as shares of Bed Bath & Beyond Inc, which rose 68.60% to close the session at 3.49.

The least gainers were Tantech Holdings Ltd, which shed 28.10% to close at 2.20. Shares of American Virtual Cloud Technologies Inc lost 24.65% to end the session at 1.07. Quotes of Kala Pharmaceuticals Inc decreased in price by 20.27% to 21.00.

On the New York Stock Exchange, the number of securities that rose in price (2,342) exceeded the number of those that closed in the red (728), while quotes of 101 shares remained virtually unchanged. On the NASDAQ stock exchange, 2499 companies rose in price, 1223 fell, and 181 remained at the level of the previous close.

Broadwind Energy Inc (NASDAQ:BWEN) rose to a 52-week high, up 96.90% or 2.19 points to end at 4.45.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.48% to 9/21.

Gold futures for February delivery added 0.23%, or 4.35, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 3.30%, or 2.48, to $77.60 a barrel. Futures for Brent crude for March delivery rose 3.47%, or 2.78, to $82.88 a barrel.

Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.21% to 1.08, while USD/JPY rose 0.14% to hit 132.43.

Futures on the USD index fell 0.01% to 102.97.

Thomas Frank
Analytical expert of InstaForex
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