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22.03.202305:16 Forex Analysis & Reviews: US stocks close higher, Dow Jones gains 0.98%

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Exchange Rates 22.03.2023 analysis

At the close of the New York Stock Exchange, the Dow Jones rose 0.98%, the S&P 500 rose 1.30%, and the NASDAQ Composite rose 1.58%.

Leading US stock indexes are growing at the beginning of trading today. The Credit Suisse bailout eased contagion fears, Reuters reports, and investors are now awaiting a decision from the US Federal Reserve, which is starting a two-day meeting today.

Currently traders are mostly looking for a rate hike of only 25 basis points. Prior to the banking crisis triggered by the collapse of Silicon Valley Bank and Signature Bank earlier this month, the US central bank was expected to hike rates by 50 basis points.

The leading performer among the components of the Dow Jones index today was American Express Company, which gained 5.82 points or 3.67% to close at 164.56. Quotes Nike Inc rose by 4.41 points (3.64%), ending trading at 125.61. Chevron Corp rose 4.73 points or 3.06% to close at 159.31.

The least gainers were shares of Intel Corporation, which lost 0.70 points or 2.40% to end the session at 28.46. Amgen Inc was up 1.77 points (0.75%) to close at 232.95, while Procter & Gamble Company was down 1.05 points (0.72%) to close at 144. .08.

Leading gainers among the S&P 500 components in today's trading were First Republic Bank, which rose 29.56% to hit 15.78, KeyCorp, which gained 9.34% to close at 12.76, and Comerica Inc, which rose 9.11% to end the session at 48.63.

The least gainers were Atmos Energy Corporation, which shed 4.05% to close at 110.23. Shares of Consolidated Edison Inc shed 3.84% to end the session at 93.19. Quotes of Digital Realty Trust Inc decreased in price by 3.69% to 97.91.

Leading gainers among the components of the NASDAQ Composite in today's trading were Quince Therapeutics Inc, which rose 71.10% to hit 1.44, Cerberus Cyber Sentinel Corp, which gained 67.87% to close at 0.39. as well as shares of Pear Therapeutics Inc, which rose 59.88% to close the session at 0.34.

The least gainers were shares of Qutoutiao Inc, which lost 58.94% to close at 0.30. Shares of Altimmune Inc lost 54.67% and ended the session at 4.95. Quotes of Check Cap Ltd decreased in price by 42.24% to 1.75.

On the New York Stock Exchange, the number of securities that rose in price (2339) exceeded the number of those that closed in the red (693), while quotes of 78 shares remained virtually unchanged. On the NASDAQ stock exchange, 2698 companies rose in price, 923 fell, and 167 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 11.47% to 21.38.

Gold futures for April delivery lost 1.98%, or 39.20, to hit $1.00 a troy ounce. In other commodities, WTI crude for May delivery rose 2.52%, or 1.71, to $69.53 a barrel. Futures for Brent oil for May delivery fell 0.05%, or 0.04, to $75.12 a barrel.

Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.02% to 1.08, while USD/JPY fell 0.02% to hit 132.47.

Futures on the USD index fell 0.08% to 102.85.

Thomas Frank
Analytical expert of InstaForex
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