This is how the key markets closed last week

The Dow ended trading at a 2-month low Friday (Sept. 16) after FedEx warned of a global economic slowdown and investors sold their shares to reduce risk.

  • The Dow Jones Industrial Average closed at 30,822.42, down 139.40, or -0.45%.
  • The S&P 500 closed at 3,873.33 points, down 28.02 points, or -0.72%.
  • The Nasdaq closed at 11,448.40, down 103.95, or -0.90%.

Crude oil futures closed slightly higher but remained lower for the third straight week on fears that tighter central bank monetary policy would slow the global economy and hurt oil demand.

  • WTI crude futures rose 1 cent, or 0.01%, to $85.11 a barrel, but slipped 1.9% for the week, falling for the third straight week.
  • BRENT crude futures rose 51 cents, or 0.6%, to $91.35 a barrel, but fell 1.6% for the week, declining for the third straight week.

Gold futures closed higher after the U.S. released a consumer sentiment report that showed inflation expectations also declined. The decline in U.S. equity markets also prompted investors to buy gold contracts as a safe haven. However, gold futures continued their slide this week, falling nearly 3% after closing Thursday at their lowest level in more than 2 years.

  • Gold futures rose $6.2, or 0.37%, to $1,683.5 per ounce, but were down 2.6% for the week.
  • Silver was up 11.2 cents, or 0.58%, at $19.381 an ounce.
  • The platinum contract was down $2.7, or 0.3%, at $901 an ounce.
  • Palladium fell $33.40, or 1.6%, at $2,112.70 an ounce.

The U.S. dollar strengthened against a basket of major currencies as investors await the outcome of the Federal Reserve’s (Fed) monetary policy meeting on September 20-21. Markets expect the Fed to raise interest rates by 0.75% to 1% to curb inflation.

  • The dollar index against the six major currencies in a basket of currencies rose 0.02% to 109.7640.
  • The US dollar strengthened against the Canadian dollar at 1.3284 Canadian dollars from 1.3224 Canadian dollars.
  • The dollar strengthened against the Swiss franc at 0.9648 francs from 0.9607 francs.
  • The US dollar weakened against the yen at 142.98 yen from 143.47 yen.
  • The euro strengthened against the US dollar at $1.0006 from $0.9996.
  • The pound fell to $1.1411 from $1.1467.
  • The Australian dollar rose to $0.6717 from $0.6703.

Leave a Reply

Change Language
%d bloggers like this: