Wall Street rose on Monday.
The Chicago Fed’s National Activity Index closed at -0.19 points in March, unchanged from the previous month. According to Trading Economics, an indicator of -0.02 points was expected. The index is a weighted average of 85 indicators to illustrate general economic activity and inflationary pressure in the economy. An index of zero points indicates that the national economy is growing in line with the historical trend
DNB Markets expects to raise interest rates by 25 basis points at the rate meeting on May 3. If PMIs indicate that the economy is not calming down, the Fed may have to hike more than indicated.
“Surprisingly strong PMIs from the US could cause a headache for the Fed. Most other indicators have recently indicated a slowdown in activity. This suggests that the Fed may be content to hike rates again this time,” he said. Chief economist Knut A. Magnussen in an update from DNB Markets.
This is how it went with the leading indices on Wall Street:
- The Dow Jones index rose 0.20 percent to 33,875.92 points.
- The Standard & Poor’s 500 rose 0.09 percent to 4,137.13 points.
- The Nasdaq index fell 0.29 percent to 12,037.20 points.
The price of a barrel of North Sea oil Brent It rose 1.38 percent to $82.47 a barrel. West Texas Intermediate– Oil rose 1.16 percent to $78.77 a barrel.
There was a mixed mood among the tech giants on Wall Street, Facebook, Amazon, Apple, Netflix and Alphabet (Google’s parent company), also known as FAANG stock:
- Facebook shares fell 0.05 percent to 212.79.
- Amazon shares fell 0.70% to 106.21.
- Apple shares rose 0.19 percent to 165.33.
- Netflix shares rose 0.32% to 329.02 points.
- Alphabet shares rose 0.82 percent to 106.78 points.
The cryptocurrency market fell on Monday:
- Bitcoin fell 0.28% to $27,379.86.
- Ethereum fell 0.59% to $1,830.02.
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