US Stock Indices Rise After Three Trading Sessions of Decline

According to recent trading data, the major American stock indices are on the rise after experiencing three consecutive sessions of decline. As of 5:30 PM Moscow time, the Dow Jones Industrial Average had risen by 0.02% to 33,957.06 points, the NASDAQ technology index had risen by 0.52% to 13,572.11 points, and the S&P 500 broad market index had risen by 0.13% to 4,371.25 points.

Over the past three trading sessions, the Dow Jones has declined by 1.3%, the NASDAQ by 2%, and the S&P 500 by 1.4%. These drops were partially due to remarks made by Federal Reserve Chairman Jerome Powell in Congress on Wednesday. Powell indicated that nearly all members of the Federal Reserve’s Open Market Committee believe an interest rate hike by the end of the year is likely.

Investors interpreted Powell’s remarks as hawkish and subsequently reduced their risk, according to Charalampos Pissouros, senior investment analyst at XM. However, on Thursday, markets focused on positive economic data. The number of initial jobless claims in the US for the week ending June 17 remained the same as the previous week’s revised figure at 264,000, against expectations of a decrease. Furthermore, the number of home sales on the secondary market unexpectedly increased by 0.2% in May compared to April, reaching 4.3 million.

The combination of a positive economic outlook and the Federal Reserve’s expected rate hike has caused markets to be volatile and unpredictable. Investors will need to keep a close eye on economic indicators to assess how these trends will affect future market performance.