Tue, 03 Oct 2023

U.S. stocks finish in the black but uncertainty prevails

Lola Evans
07 Jun 2023, 06:14 GMT+10

NEW YORK, New York - U.S. stocks were directionless Tuesday as investors had little to digest ahead of next week's Federal Reserve monetary meeting, and release of the latest CPI reading.

"It really seems like we're kind of in a holding pattern," Jeff Kilburg, CEO of KKM Financial told CNBC Tuesday. "With the Fed next week, people are kind of taking a breath."

Despite the uneasiness in the markets, there is a sense the outlook is somewhat optimistic. "It looks like investors are gaining a little optimism," Cresset Capital CIO, Jack Ablin told Reuters newsagency Tuesday.

"The narrowness in the market where everyone was focused on the top seven names or so is starting to dissipate a little bit and that's good news."

The Nasdaq Composite increased 46.99 points or 0.36 percent to 13,276.42.

The Standard and Poor's 500 added 10.06 points or 0.24 percent to 4,283.85.

The Dow Jones industrials inched up 10.42 points or 0.03 percent to 33,573.26.

The NYSE Composite (DJ), encompassing all common stocks listed on the New York Stock Exchange, ended at 15,391.80 points, marking a rise of 116.59 points or 0.76 percent. The trading volume for the index was recorded at zero.

The NYSE AMEX Composite Index, which reflects the performance of stocks listed on the NYSE American exchange, finished at 4,029.60 points, showing an increase of 33.09 points or 0.83 percent. The trading volume was recorded as zero.

The CBOE Volatility Index (VIX), commonly known as the "fear gauge" due to its association with market volatility, closed at 14.01, experiencing a decrease of 0.72 points or 4.89 percent.

The U.S. dollar lost steam towards the end of the trading day Tuesday but still managed to finish in front against most currencies.

EUR/USD: The Euro (EUR) traded against the dollar at a rate of 1.0691, reflecting a decrease of 0.19 percent.

USD/JPY: The Japanese yen (JPY) inched up 0.07 percent to 139.67.

USD/CAD: The U.S. dollar (USD) traded against the Canadian dollar (CAD) at a rate of 1.3404, indicating a decrease of 0.30 percent.

GBP/USD: The British pound (GBP) edged down 0.09 percent to 1.2425

USD/CHF: The U.S. dollar (USD) traded against the Swiss franc (CHF) at a rate of 0.9076, displaying an increase of 0.17 percent.

AUD/USD: The Australian dollar (AUD) moved significantly higher on Tuesday after the Reserve Bank of Australia lifted official interest rates by 0.25 percent to 4.10 percent. The aussie ended around 0.6672, for a gain of 0.84 percent.

NZD/USD: The New Zealand dollar (NZD) moved 0.12 percent higher to 0.6076.

In Tuesday's trading session, world stock markets displayed a mix of gains and losses, as investors closely monitored various economic indicators and geopolitical developments. While some indices experienced modest increases, others faced notable declines.

The ESTX 50 PR.EUR index (^STOXX50E) settled at 4,295.22, showing a modest increase of 1.98 points or 0.05 percent.

The Euronext 100 Index (^N100) concluded at 1,343.27, marking a rise of 0.86 points or 0.06 percent.

In London, the FTSE 100 index (^FTSE) closed at 7,628.10, showing a gain of 28.11 points or 0.37 percent.

The DAX PERFORMANCE-INDEX (^GDAXI) in Germany concluded at 15,992.44, up 28.55 points or 0.18 percent.

France's CAC 40 index (^FCHI) settled at 7,209.00, representing a marginal increase of 8.09 points or 0.11 percent.

Belgium's BEL 20 index (^BFX) closed at 3,656.90, experiencing an increase of 22.38 points or 0.62 percent.

Russia's MOEX Russia Index (IMOEX.ME) concluded at 2,222.51, down 4.14 points or 0.19 percent.

In Asia, the Nikkei 225 index (^N225) in Japan closed at 32,506.78, exhibiting a rise of 289.35 points or 0.90 percent.

Hong Kong's HANG SENG INDEX (^HSI) concluded at 19,099.28, experiencing a slight dip of 9.22 points or 0.05 percent.

China's SSE Composite Index (000001.SS) wrapped up at 3,195.34, recording a decline of 37.10 points or 1.15 percent, with a trading volume of 763.816 million shares. The Shenzhen Index (399001.SZ) in Shenzhen, China, closed at 10,773.45, indicating a decrease of 172.63 points or 1.58 percent, with a trading volume of 4.287 billion shares.

Australia's S&P/ASX 200 index (^AXJO) concluded at 7,129.60, witnessing a decline of 86.70 points or 1.20 percent, while the Australian ALL ORDINARIES index (^AORD) closed at 7,319.90, facing a decline of 81.30 points or 1.10 percent.

Singapore's STI Index (^STI) wrapped up at 3,190.11, showing a marginal gain of 1.10 points or 0.03 percent.

India's S&P BSE SENSEX index (^BSESN) settled at 62,792.88, with a minor increase of 5.41 points or 0.01 percent, while .India's NIFTY 50 index (^NSEI) closed at 18,599.00, with a minor increase of 5.15 points or 0.03 percent.

Indonesia's IDX COMPOSITE index (^JKSE) concluded at 6,618.92, experiencing a decrease of 14.51 points or 0.22 percent.

The FTSE Bursa Malaysia KLCI (^KLSE) in Malaysia closed at 1,383.17, showing a gain of 1.91 points or 0.14 percent.

New Zealand's S&P/NZX 50 INDEX GROSS (GROSS) (^NZ50) settled at 11,882.10, with a minor increase of 1.20 points or 0.01 percent.

South Korea's KOSPI Composite Index (^KS11) closed at 2,615.41, showing a gain of 14.05 points or 0.54 percent.

Taiwan's TSEC weighted index (^TWII) concluded at 16,761.66, up 47.23 points or 0.28 percent.

In the Middle East, Israel's TA-125 index wrapped up at 1,755.65, experiencing a decline of 11.46 points or 0.65 percent.

Egypt's EGX 30 Price Return Index (^CASE30) settled at 17,491.20, indicating an increase of 145.30 points or 0.84 percent, with a trading volume of 352.836 million shares.

In North America, the S&P/TSX Composite index, the primary index for the Toronto Stock Exchange, finished the day at 20,055.60 points, representing a gain of 123.98 points or 0.62 percent. The market saw a trading volume of 197.427 million shares.

In Africa, the Top 40 USD Net TRI Index, an important benchmark for South African stocks, concluded the session at 3,997.13 points, up by 12.51 points or 0.31 percent. The index recorded no change in trading volume.

Across to Latin America, in Brazil, the IBOVESPA index closed at 114,633.51 points, exhibiting a gain of 1,937.19 points or 1.72 percent. No trading volume was reported for the index.

The IPC MEXICO, Mexico's benchmark stock index, concluded the day at 54,384.21 points, registering an increase of 848.16 points or 1.58% percent. The trading volume for the index stood at 247.761 million shares.

Lastly, the S&P/CLX IPSA, the primary index for the Chilean stock market, remained unchanged at 5,058.88 points, representing azero percentage change.

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