Home News Dow Jones extended promotion adding over 900 points in the last three...

Dow Jones extended promotion adding over 900 points in the last three sessions

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The US indexes ended the first trading session in November with increases against investors’ hopes for warming US-China relations.

The blue chip index Dow Jones Industrial Average added 264.98 points to its value, ending the day at 25,380.74 points. The broader index S&P 500 rose 1.06% to 2,740.37 points, while the technology benchmark Nasdaq Composite rose by 1.75%, or 128 points, to 7,434.06 points.

This is the third consecutive session in which the Dow Jones ends with promotions, so the index added more than 900 points.

Earlier today, the US President Donald Trump wrote a message on the social platform Twitter that he had held a “long and very successful conversation” with Chinese President Xi Jinping on trade issues. He added that during the G20 meeting the two leaders will talk again, this time face to face.

The analysts say short-term trade shocks may continue, but a medium-term outlook is expected to resolve issues and conclude a deal between the US and China.

The first session in November sent a highly volatile October. Third-quarter corporate accounts managed to help indices recover part of the October downturn. However, the analysts believe that negative forecasts may continue, despite the company’s performance on the stock exchange over the past three days.

In just one month S&P managed to wipe out 1.91 trillion USD, while the Dow finished the month with a 5.1% drop – the biggest monthly decline for the January 2016 index.

The yields on 10-year government bonds fell to 3.134%, while the 30-year securities reached a level of 3.376%, averaging 0.025 per cent of their value.

In currency markets, the dollar index, which measures the value of US dollars against a basket of six competing currencies, crosses 0.86% of its value, ending the session at 96.29 points.

Oil prices continue to decline. The international Brent benchmark fell by 2.07 USD to 72.97 USD per barrel, while futures on US light crude WTI lost 2.5%, or 1.62 USD in value, traded at the end of the session at 63.69 USD per barrel.

Both varieties marked their biggest decline since July 2016.