Yesterday, the eyes were on Netflix’s profits, which exceeded expectations on all fronts, whether in terms of profits and revenues or the number of subscribers, which plays a major role in the stock’s movement and is viewed by analysts as an important number and strongly affects the stock’s volatility.
The Dow Jones Industrial Average added 337 points yesterday, and moved away more than 500 points from the 30 thousand levels, which so far appears as a pivotal point that it broke for a short period recently, before returning and regaining it quickly, to close at 30.523 points, after rising by 1.12 percent.
As for the Standard & Poor’s 500 Index, it was the biggest gainer among the three indices by 1.14 percent and closed at 3.719 points, and finally the Nasdaq Composite Index closed with an increase of 0.90 percent at 10,772 points.
As for the 10-year US Treasury bond yield, it has become clear that 4 percent constitutes a nuisance to the US market and a difficulty in maintaining all its gains every time the yield records this percentage.
In terms of gold prices, the strength of the dollar and the continuous increase in interest rates, in addition to the 4 percent yield of US Treasury bonds for 10 years, all of these factors strongly affect the prices of the yellow metal and eliminate the well-known feature of resorting to gold in times of high inflation.
Currently, gold prices are at levels above $1650 an ounce, losing more than $400 from a historical high of about $2,075 an ounce that it had recorded last March.
It then entered a series of declines, the outcome of which has been so far 7 consecutive months, and thus a clear impact of the successive rises in interest rates by the US Federal Reserve.
In terms of oil prices, Brent crude is still at levels of $90 a barrel, and US crude is above $83, and the price difference between the two crudes is about $7.
China’s postponement of its economic data had some impact on demand concerns, especially with the current policy of China on “zero Covid”.
As for the dollar index and the big rise to levels around 115, with a wave of big rises from the 90 levels that lasted more than a year, it is natural that this will be offset by strong declines in the triangle: the euro, the pound and the yen.
The euro is always below parity levels, but rather finds it difficult to return to it and hold on to it.
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