Nasdaq, which rebounded at 3.7% the day before, turned a slight decline
Daily trend graph of the Dow Index for the last month. (Source = Korea Investment & Securities Home Trading System)
With the news of the conclusion of the US$1.9 trillion stimulus package, the New York Stock Exchange’s Dow Index rose 1.5%, breaking a record high. The technology stock-centered NASDAQ index, which rebounded sharply by 3.7% the day before, turned slightly lower.
On the 10th (hereafter local time), the Dow Jones Industrial Average of the US New York Stock Market closed at 32,2297.02, an increase of 464.28p (1.46%) from the closing price of the previous trading day, and the Standard & Poor’s (S&P) 500 Index was 23.37p (0.6%). It rose to 3898.81.
On the other hand, the Nasdaq Composite Index fell 4.99p (0.04%) to close at 10,3068.83.
The Dow index rose for four consecutive trading days, and the S&P 500 rose for two consecutive days. The Dow Index broke all-time highs in both intraday and closing prices.
The Nasdaq index, which rebounded at 3.7% the previous day, turned to a slight decline in one day.
On this day, investors pay attention to the news of the conclusion of the US economic stimulus package, and they are more focused on the expectation of an economic recovery than on the possibility of growth in technology stocks. The US House of Representatives finalized a $1.9 trillion stimulus bill that day, and President Joe Biden is said to be expected to sign the bill this Friday.
The U.S. Treasury’s 10-year Treasury bid bid rate was 2.38 times, similar to the previous 2.37 times. In general, it is evaluated that it is a good level that does not stimulate demand concerns.
The Wall Street Journal reported that the Dow index hit an all-time high on Wednesday as the Treasury auction proceeded without surprise amid the full rise in consumer prices in February.
The media analyzed that technology stocks are now following a common pattern, and that the market has crashed over the past few weeks as investors have watched US government debt return soar amid inflation and anticipation of an economic recovery.
This has narrowed the relative valuation gap between safer bonds and more risky stocks, making bond yields even more attractive to some investors, he said.
Stock markets in major European countries have generally maintained an uptrend. On this day, the DAX 30 index of the Frankfurt Stock Market in Germany rose 0.7% from the closing price of the previous trading day to 145.40.25, and the CAC 40 index in the Paris stock market rose 1.1% to 5990.55, closing the market. The Euro Stoxx 50 Index, a pan-European index, rose 0.9% to 3818.97.
The UK London Stock Exchange FTSE 100 index closed slightly at 6725.60, down 0.07%.
International oil and gold prices rose. On the same day, the price of West Texas crude oil (WTI) in April on the New York Commercial Exchange closed at $64.44, an increase of 0.43 (0.7%) per barrel, and the price of April gold on the New York Merchandise Exchange was $4.90 (0.3%) from the previous trading day It rose to $1721.80.
[신아일보] Reporter Chun Dong-hwan
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