Gold price continues to rise: Dow Jones is enjoying a quiet 125th anniversary

Gold price continues to rise: Dow Jones is enjoying a quiet 125th anniversary
US NEWS

Gold price continues to rise


Dow Jones is having a quiet 125th anniversary

The shopping landscape in the USA seems to be normalizing again, something that can also be felt on Wall Street – albeit not entirely positive. Overall, however, trading on the Dow Jones’ 125th anniversary remains calm.

Wall Street has benefited from increased investor confidence. Among them, there is a belief that the Federal Reserve and other central banks will continue to support the economy. The market was worried that rising inflation could provoke a turnaround in interest rates.

The Dow-Jones-Index, which “celebrated” its 125th anniversary on Wednesday, rose by 11 points to 34,323, the S&P-500 rose by 0.2 percent, during the Nasdaq-Composite advanced by 0.6 percent. The number of course winners was given as 2,265 (Tuesday: 1,229), those of losers as 1,091 (2,059). 118 (176) titles closed unchanged.

Nasdaq Composite 13.736,28

Participants also saw a small countermovement in the gains of the leading indices after the market turned negative on Tuesday. Various central bankers had recently emphasized that the time for a monetary policy reversal had not yet come. “All these signals from the Fed show that there is no rush to dry up liquidity,” says chief economist Savvas Savouri of Toscafund Asset Management.

Urban Outfitters and Ford are becoming more expensive

With Urban Outfitters it went up 10 percent. The clothing retailer posted a profit for the past quarter as the shopping landscape begins to normalize again. Also Nordstrom (-5.8 percent) had submitted quarterly figures, which were not well received. The department store and mail order chain narrowed the losses, but sales were still 13 percent below the level of 2019 and thus before the corona crisis.

Urban Outfitters
Urban Outfitters 31,60

Ford rose by 8.5 percent. At its virtual capital market event, the automobile manufacturer announced significantly higher investments in expanding the production of e-cars.

Intuit gained 0.9 percent according to the business report for the third quarter. The provider of software for financial management increased sales and earnings and posted a record surplus. Zscaler (+12.4 percent), a provider of cloud security systems, has beaten the market projections with its quarterly figures. In addition, the company reported a large number of unprocessed orders.

Toll Brothers rose by 3.8 percent. The luxury house builder can show an increasing turnover for the first business quarter, which also increased the profit. Low mortgage rates and limited supply created a boom in home purchases.

Returns and gold are gaining ground

Intuit
Intuit 358,25

On the bond market, the Ten year returns after the recent decline, showing that inflation worries have not entirely disappeared from the market. The dollar recovered somewhat; the dollar index gained 0.4 percent and the euro fell below the $ 1.22 mark.

The Oil price made up for initial losses, rising slightly after the Energy Information Administration reported a decline in US oil inventories. Concerns about the additional Iranian supply, which should enter the market with a revival of the nuclear agreement, had a somewhat dampening effect.

The Gold price built on its strength of the past few weeks and rose for the first time since January over 1,900 dollars a troy ounce. A weak dollar and overarching inflation concerns keep the price up. At the end of March it was still at $ 1,678.

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Author: Killian Jones
Graduated From Princeton University.He has been at the USTV since 2017.
Function: Chief-Editor
E-mail: admin@ustv.online

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