Dow Jones climbs 556 points as stocks around the world take off
NEW YORK, New York – U.S. stocks rebounded sharply on Tuesday after a crucial CPI reading remained flat, against expectations for a monthly increase of 0.01 percent.
“There is optimism that inflation will cool to a level where the Federal Reserve can take its foot off the brake,” Keith Buchanan, portfolio manager at Globalt Investments, told CNBC on Tuesday.
S&P 500 (^GSPC): The S&P 500 closed at 4,503.59 on Tuesday, up a solid 92.04 points, or 2.09 percent.
Dow Jones Industrial Average (^DJI): The Dow Jones Industrial Average rose to 34,894.14, marking a significant gain of 556.27 points, or 1.62 percent.
NASDAQ Composite (^IXIC): The tech-heavy NASDAQ Composite showed remarkable strength, closing at 14,103.36. The index registered an impressive gain of 335.62 points, or 2.44 percent.
Global Foreign Exchange Market Report: US Dollar on Massive Sell-off
Despite a slight change in the CPI on Tuesday, the US dollar came under enormous selling pressure, as the yield on the 10-year Treasury note fell below 4.5 percent.
EUR/USD (Euro/US Dollar): The euro rose sharply, with the EUR/USD pair reaching 1.0880. This represents an increase of 1.70 percent or 0.0181.
USD/JPY (US Dollar / Japanese Yen): The Japanese yen accelerated to 150.35. This represents a gain of 0.90 percent or 1.36.
USD/CAD (US Dollar / Canadian Dollar): The Canadian dollar is in high demand, reaching 1.3700 on Tuesday. This indicates an increase of 0.70 percent or 0.0096.
GBP/USD (Pound Sterling/US Dollar): The British pound gained ground against the US dollar, settling at 1.2497. This reflects a sharp increase of 1.78 percent or 0.0218.
USD/CHF (US Dollar / Swiss Franc): The Swiss franc jumped to 0.8890. This represents a gain of 1.39 percent or 0.0125.
AUD/USD (Australian Dollar / US Dollar): The Australian dollar showed its strength by rising to 0.6507 on Tuesday. This represents a notable increase of 2.05 percent or 0.0131.
NZD/USD (New Zealand Dollar / US Dollar): The New Zealand dollar also strengthened, reaching 0.6009. This represents a substantial increase of 2.27 percent.
Global stock markets close sharply higher on Tuesday
Here’s a look at Tuesday’s latest global stock quotes:
CANADA
S&P/TSX Composite Index (^GSPTSE): Canada’s S&P/TSX Composite Index closed at 20,056.02, reflecting a substantial gain of 346.87 points, or 1.76 percent. The Canadian market has seen positive movements in various sectors.
UNITED KINGDOM
FTSE100 (FTSE): London’s FTSE 100 index closed at 7,440.47, marking a positive move with an increase of 14.64 points, or 0.20 percent.
EUROPE
DAX PERFORMANCE INDEX (^GDAXI): The German DAX index, represented by ^GDAXI, saw a sharp rise, closing at 15,614.43. He gained 269.43 points, or 1.76 percent.
CAC 40 (^FCHI): France’s CAC 40 index (^FCHI) rose 98.62 points, or 1.39 percent, on Tuesday, closing at 7,185.68.
ESTX 50 PR.EUR (^STOXX50E): The ESTX 50 PR.EUR (^STOXX50E) index closed at 4,291.72, showing a positive movement of 59.53 points, or 1.41 percent.
Euronext 100 Index (^N100): The Euronext 100 index (^N100) closed at 1,342.78, gaining 13.72 points, or 1.03 percent.
BEL 20 (^BFX): The Belgian BEL 20 index (^BFX) posted a strong performance, closing at 3,507.47. He gained 61.91 points, or 1.80 percent.
RUSSIA
MOEX Russia Index (IMOEX.ME): The MOEX Russia Index (IMOEX.ME) faced a slight decline, closing at 2,222.51. It lost 4.14 points, or 0.19 percent.
ASIA
Nikkei 225 (^N225): Japan’s Nikkei 225 index closed Tuesday at 32,695.93, marking a modest gain of 110.82 points, or 0.34 percent.
HANG SENG INDEX (^HSI): Hong Kong’s Hang Seng Index (^HSI) suffered a slight setback, closing at 17,396.86. It recorded a decline of 29.35 points, or 0.17 percent.
SSE composite index (000001.SS): China’s SSE Composite Index (000001.SS) showed resilience, closing at 3,056.07. It saw an increase of 9.54 points, or 0.31 percent.
Shenzhen Index (399001.SZ): The Shenzhen Index (399001.SZ) also recorded a positive performance, closing at 10,005.56 with a gain of 16.73 points, or 0.17 percent.
STI Index (^STI): The Singapore STI Index (^STI) saw a slight decline on Tuesday, closing at 3,104.66. It lost 2.02 points, or 0.07 percent.
S&P BSE SENSEX (^BSESN): India’s S&P BSE SENSEX Index (^BSESN) saw a slight decline, closing at 64,933.87. It lost 325.58 points, or 0.50 percent.
NIFTY 50 (^NSEI): India’s NIFTY 50 Index (^NSEI) closed at 19,443.55, registering a decline of 82.00 points, or 0.42 percent.
COMPOSITE IDX (^JKSE): Indonesia’s IDX COMPOSITE Index (^JKSE) closed at 6,862.06, marking a gain of 23.74 points, or 0.35 percent.
FTSE Bursa Malaysia KLCI (^KLSE): The FTSE Bursa Malaysia KLCI Index (^KLSE) closed at 1,451.72 on Tuesday, registering a gain of 6.54 points, or 0.45 percent.
KOSPI composite index (^KS11): South Korea’s KOSPI Composite Index (^KS11) closed at 2,433.25, registering a gain of 29.49 points, or 1.23 percent.
TSEC weighted index (^TWII): Taiwan’s TSEC Weighted Index (^TWII) closed at 16,915.71, a gain of 76.42 points, or 0.45 percent.
OCEANIA
S&P/ASX 200 (^AXJO): Australia’s S&P/ASX 200 Index (^AXJO) rose, closing at 7,006.70. He gained 57.90 points, or 0.83 percent.
ALL ORDINARIES (^AORD): Meanwhile, Australia’s ALL ORDINARIES Index (^AORD) closed at 7,207.10, recording a gain of 62.10 points, or 0.87 percent.
S&P/NZX 50 GROSS INDEX (^NZ50): New Zealand’s S&P/NZX 50 GROSS Index (^NZ50) closed at 11,173.28 on Tuesday, gaining 80.25 points, or 0.72 percent.
AFRICA
Top 40 of the TRI net USD index (^JN0U.JO): The Top 40 USD Net TRI Index (^JN0U.JO) saw significant growth, closing at 3,936.47. It jumped 169.28 points, or an impressive 4.49 percent.
MIDDLE EAST
TA-125 (^TA125.TA): Israel’s TA-125 Index (^TA125.TA) posted strong growth on Tuesday, closing at 1,719.15. He gained 34.79 points, or 2.07 percent.
EGX 30 Price Return Index (^CASE30): The Egyptian Price Return Index EGX 30 (^CASE30) closed at 23,894.10, facing a slight decline of 60.90 points, or 0.25 percent. The trading volume amounted to 298.908 million.
