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29.05.202304:14 Forex Analysis & Reviews: US stock market closes higher, Dow Jones gains 1.00%

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Exchange Rates 29.05.2023 analysis

At the close in the New York Stock Exchange, the Dow Jones rose 1.00%, the S&P 500 index rose 1.30%, the NASDAQ Composite index rose 2.19%.

Incomes of the US population in April were expected to grow by 0.4% compared to March, spending increased by 0.8% against the forecast of 0.4%. And the consumer sentiment index of the University of Michigan, which reflects the degree of household confidence in the US economy, according to the final assessment, fell to 59.2 points in May from 63.5 points in April, which turned out to be better than expected and preliminary estimates.

The leading gainer among the components of the Dow Jones index today was Intel Corporation (NASDAQ:INTC), which gained 1.60 points or 5.84% to close at 29.00. American Express Company (NYSE:AXP) rose 6.16 points or 4.08% to close at 157.24. Salesforce Inc (NYSE:CRM) rose 5.53 points or 2.63% to close at 215.44.

The least gainers were Merck & Company Inc (NYSE:MRK), which shed 1.23 points or 1.10% to end the session at 111.07. The Travelers Companies Inc (NYSE:TRV) was up 1.38 points or 0.79% to close at 172.29, while Chevron Corp (NYSE:CVX) was down 0.48 points or 0. .31%) and finished trading at 154.08.

Gap Inc (NYSE:GPS), which rose 12.40% to 8.34, Broadcom Inc (NASDAQ:AVGO), which gained 11.52%, was among the leaders of growth among the components of the S&P 500 index in today's trading. to close at 812.73 and Arista Networks (NYSE:ANET) which rose 9.06% to close at 170.34.

The least gainer was Ulta Beauty Inc (NASDAQ:ULTA), which shed 13.37% to close at 420.27. Shares of Kroger Company (NYSE:KR) shed 3.25% to end the session at 47.31. Eversource Energy (NYSE:ES) was down 3.06% to 68.69.

The leading gainers among the components of the NASDAQ Composite in today's trading were Verastem Inc (NASDAQ:VSTM), which rose 125.55% to 1.01, Elevation Oncology Inc (NASDAQ:ELEV), which gained 66.78% , to close at 5.02, and Presto Automation Inc (NASDAQ:PRST), which rose 63.93% to close at 3.59.

The least gainers were Canaan Inc (NASDAQ:CAN), which shed 26.74% to close at 1.89. Shares of mCloud Technologies Corp (NASDAQ:MCLD) shed 24.27% to end the session at 0.54. ROC Energy Acquisition Corp (NASDAQ:ROC) dropped 22.73% to 8.16.

On the New York Stock Exchange, the number of securities that rose in price (2032) exceeded the number of those that closed in the red (935), while quotes of 99 shares remained virtually unchanged. On the NASDAQ stock exchange, 2244 companies rose in price, 1320 fell, and 180 remained at the level of the previous close.

Shares of Broadcom Inc (NASDAQ:AVGO) surged to an all-time high, up 11.52% or 83.93 to close at 812.73. Shares of Arista Networks (NYSE:ANET) rose to an all-time high of 9.06% or 14.15 points to close at 170.34. Eversource Energy (NYSE:ES) stock tumbled to a 3-year low, shedding 3.06% or 2.17 points to close at 68.69. Shares in Salesforce Inc (NYSE:CRM) rose to a 52-week high, up 2.63% or 5.53 points to close at 215.44. Canaan Inc (NASDAQ:CAN) tumbled to a 52-week low, shedding 26.74% or 0.69 points to close at 1.89. Shares in ROC Energy Acquisition Corp (NASDAQ:ROC) fell to all-time lows, shedding 22.73% or 2.40 points to end at 8.16.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 6.22% to 17.95.

Gold futures for June delivery added 0.15%, or 3.00, to $1.00 a troy ounce. In other commodities, WTI crude for July delivery rose 1.35%, or 0.97, to $72.80 a barrel. Brent futures for July delivery rose 1.04%, or 0.79, to $77.05 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.01% to 1.07, while USD/JPY rose 0.38% to hit 140.59.

Futures on the USD index fell 0.04% to 104.14.

Thomas Frank
Analytical expert of InstaForex
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