US stocks are volatile! The Dow Jones is up, but the Nasdaq is down as investors reduce risk amid expectations of Nvidia's earnings and US inflation data.
U.S. stock markets closed mixed on Monday (August 24, 2569), with the Dow Jones rising while the S&P 500 and Nasdaq Composite fell amid selling pressure on technology and chip stocks. Investors are holding back on investments awaiting Nvidia's earnings report and key U.S. inflation data to be released this week. The market is also closely watching the Federal Reserve's stance at the Jackson Hole meeting.
US stock markets were volatile; the Dow Jones rose, but the Nasdaq fell.
U.S. stock markets closed higher on Monday, with the Dow Jones rising while the S&P 500 and Nasdaq Composite fell, as investors reduced risk ahead of Nvidia's earnings release on Wednesday and data on Personal Consumption Expenditures (PCE), a key measure of inflation closely watched by the Federal Reserve.
- Dow Jones Industrial Average Closed at 53,417.16 points, up 140.15 points (+0.26%)
- S&P 500 Index Closed at 7,652.86 points, down 21.51 points (-0.28%)
- Nasdaq Composite Index Closed at 25,980.19 points, down 200.264 points (-0.77%)
Chip and technology stocks fell, pressuring the S&P 500 and Nasdaq indices, while the 10-year Treasury yield dropped more than three basis points to 4.7% following reports that the Treasury Department may use nearly $1 trillion from its General Account to support its long-term Treasury repurchase program.
Investors are also watching Nvidia's earnings report, scheduled to be released after market close on Wednesday, as well as July PCE data to be released later that day and a speech by Federal Reserve Chairman Kevin Warsh at the Jackson Hole conference on Friday.
European stock markets were stable as investors paused investments awaiting economic data.
European stock markets were flat on Monday as investors slowed trading and awaited key developments from the United States, including inflation data, earnings reports from major technology companies, and the direction of monetary policy from the Federal Reserve.
- STOXX 600 Index Closed at 654.21 points, up 0.03 points (0.00%).
- DAX German stock market index Closed at 26,106.60 points, down 29.96 points (-0.11%)
- CAC 40 Index of the French stock market Closed at 8,453.01 points, down 31.42 points (-0.37%)
The investment sentiment in European stock markets remains cautious as investors assess the direction of interest rates and the global economic outlook, amid pressure from uncertainty surrounding trade and US economic policy.
The UK stock market closed higher, with the FTSE 100 boosted by individual stock gains.
The London stock market closed higher on Monday, with the FTSE 100 index rising, despite overall markets still facing pressure from the slowdown in US and European stock markets. Investors are also monitoring the direction of the economy and monetary policy from major central banks.
- FTSE 100 Index UK Stock Market Closed at 10,854.32 points, up 37.76 points (+0.35%)
The UK stock market was also supported by gains in certain sectors, as investors continued to assess economic factors and global market direction ahead of several key US economic data releases this week.
Oil prices fell more than 2% after the United States imposed sanctions on Iran.
Global crude oil prices fell on Monday despite the U.S. announcing new sanctions on Iran, as investors viewed the previous week's surge in prices as an opportunity for profit-taking. The market is also assessing the impact of the sanctions on Iran's oil supply.
- WTI crude oil price (September delivery) It closed at $84.89 per barrel, down approximately 2.5%.
- Brent crude oil price (October delivery) It closed at $92.06 per barrel, down approximately 2.5%.
The United States launched global sanctions against Iran, signaling that China would not be exempt from them, following a surge in WTI and Brent oil prices last week on concerns about the impact of the measures on oil supply.
Commonwealth Bank of Australia expects oil prices to remain volatile in the second half of 2569, estimating Brent crude prices to fluctuate between $70 and $100 per barrel, depending on the success of sanctions against Iran and the situation regarding oil transportation through the Strait of Hormuz.
Gold prices surged to their highest level in over three months, driven by buying pressure and a weaker dollar.
Global gold prices rose sharply on Monday, with spot gold hitting its highest level in over three months, as investors bought gold on technical signals. A weaker dollar and expectations of positive US inflation data also boosted safe-haven demand.
- Spot Gold Price Closed at $4,635.39/ounce, up 0.7%.
- Gold price on Comex market (December delivery) Closed at $4,697.80/ounce, up 0.4%.
Gold prices rose after breaking through the 200-day moving average last week, providing technical momentum. Globally, gold ETFs saw net inflows of 46.7 tonnes last week, worth approximately $6.4 billion, the highest level in 10 months, according to the World Gold Council.
Investors are also watching for US PCE index data to be released on Wednesday and a speech by Federal Reserve Chairman Kevin Warsh at the Jackson Hole conference on Friday, which could signal the outlook for interest rates and the direction of gold prices in the coming period.
The dollar strengthened slightly as investors watched for sanctions against Iran.
The US dollar strengthened slightly on Monday after falling for three consecutive weeks out of four, as investors awaited details of sanctions against Iran and assessed the impact of the US Treasury repurchase program.
- US Dollar Index It rose 0.2% to 99.04.
- Euro/Dollar It stood at $1.1666, down 0.2%.
- Dollar/Yen It stood at 159.13 yen, an increase of 0.11%.
- Pound/Dollar It stood at $1.3644, up 0.03%.
The Canadian dollar weakened by 0.6% to 1.3855 CAD per US dollar after the US announced a 50% tariff on Canadian imports. The market is also monitoring the impact of US trade policy and the direction of government bond yields, which could affect the dollar's future outlook.
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