Sun, 01 Oct 2023

U.S. stock markets move higher, tech stocks lead the way

Lola Evans
09 Jun 2023, 06:20 GMT+10

NEW YORK, New York - U.S. stocks moved higher Thursday as investors and traders took a break from their recent breather.

"What you are really seeing in the vol market is an unwillingness to engage," David Bianco, Americas chief investment officer for asset manager DWS Group told Reuters Thursday. "You've just got paralysis in investors."

The Nasdaq Composite did best Thursday, surging 133.63 points or 1.02 percent to close at 13,238.52.

The Standard and Poor's 500 increased 26.41 points or 0.62 percent to 4,293.93.

The Dow Jones industrials added 168.59 points or 0.50 percent to 33,833.61.

The NYSE COMPOSITE (DJ) index closed at 15,502.64, reflecting a modest increase of 33.01 points or 0.21 percent.

The NYSE AMEX COMPOSITE INDEX, which represents small-cap and mid-cap stocks in the U.S., ended the day at 4,112.55, rising by 15.34 points or 0.37 percent.

Meanwhile, the Russell 2000, which represents small-cap stocks, closed at 1,880.78 Thursday, recording a dip of 7.67 points or 0.41 percent.

Investors keeping an eye on market volatility paid attention to the CBOE Volatility Index, also known as the VIX. The VIX closed at 13.66, experiencing a decrease of 0.28 points or 2.01 percent.

Thursday's closing numbers in the global foreign exchange market revealed a softness in the U.S. dollar.

The Euro (EUR) showed strength against the dollar (USD), with the EUR/USD pair closing at 1.0780. The euro gained 0.77 percent against the greenback. The single currency saw increased buying interest, despite economic data revealing the Eurozone entered a technical recession in the first quarter, with major contractions in Germany and Ireland.

The Japanese yen (JPY), rose a hefty 0.83 percent to 138.90. The Japanese currency attracted safe-haven demand amidst concerns over global economic uncertainties.

Similarly, the U.S. dollar (USD) experienced a slight dip against the Canadian dollar (CAD), with the USD/CAD pair closing at 1.3355. The dollar decreased by 0.00124 or 0.09 percent against the loonie. The Canadian currency benefited from higher oil prices and positive economic data.

Moving to the British pound (GBP), it gained ground against the U.S. dollar (USD), with the GBP/USD pair closing at 1.2556. The pound rose by 0.01212 or 0.97 percent against the greenback. Positive economic indicators and increased market confidence in the UK contributed to the pound's appreciation.

The U.S. dollar (USD) faced a decline against the Swiss franc (CHF), with the USD/CHF pair closing at 0.8991. The dollar decreased by 0.01074 or 1.18 percent against the franc. The Swiss currency attracted safe-haven demand and benefited from its status as a stable currency.

Meanwhile, the Australian dollar (AUD) gained ground against the dollar, with the AUD/USD pair closing at 0.6714. The Aussie dollar increased by 0.00629 or 0.95 percent against the greenback. Positive economic data, increased risk appetite, and Tuesday's RBA 0.25 percent rate hike supported the Australian currency.

Similarly, the New Zealand dollar (NZD) appreciated against the U.S. dollar (USD), with the NZD/USD pair closing at 0.6097. The Kiwi dollar rose by 1.00 percent against the greenback. Improved market sentiment and positive economic indicators contributed to the New Zealand currency's gains.

Thursday's closing numbers revealed a mixed picture for global stock markets, with some indices ending the day in positive territory while others experienced slight declines.

In London, the FTSE 100 closed at 7,599.74, down 24.60 points or 0.32 percent. The index faced moderate selling pressure throughout the day, leading to a minor dip in its value.

Across the English Channel, the DAX PERFORMANCE-INDEX in Frankfurt recorded a slight gain of 29.40 points or 0.18 percent, closing at 15,989.96. The German market held its ground in the face of volatile trading conditions and confirmation that Germany had entered a recession in the first quarter.

Meanwhile, the CAC 40 in Paris showed resilience, climbing by 19.36 points or 0.27 percent to reach a closing value of 7,222.15. Positive sentiment in certain sectors contributed to the index's modest growth.

In broader Europe, the ESTX 50 PR.EUR, representing the Eurozone, closed at 4,297.68, gaining 5.77 points or 0.13 percent. The index showed resilience amidst regional economic concerns, ending the day with a slight upward movement.

The Euronext 100 Index, tracking major companies across European markets, closed at 1,346.99, up 2.93 points or 0.22 percent. The index maintained a positive trajectory, driven by strong performances in various sectors.

Moving to Brussels, Belgium's BEL 20 ended the day at 3,641.39, down 8.84 points or 0.24 percent. The index faced modest selling pressure, resulting in a minor decline.

In Russia, the MOEX Russia Index closed at 2,222.51, down 4.14 points or 0.19 percent. The index experienced a slight setback due to profit-taking activities in certain sectors.

In North America, in Canada, the S&P/TSX Composite index concluded the day at 19,942.70, experiencing a slight decline of 40.99 points or 0.21 percent. The index traded a total volume of 185.563 million shares.

In Latin America, in Brazil, the IBOVESPA index closed at 115,488.16, reflecting a positive movement of 878.05 points or 0.77 percent.

Mexico's IPC MEXICO concluded the day at 54,334.00, showing a marginal increase of 42.56 points or 0.08 percent. The index traded a total volume of 225.98 million shares.

In Asia, the Nikkei 225 in Tokyo experienced a 272.47 points or 0.85 percent dip, closing at 31,641.27. Market participants cited concerns over global economic uncertainties as the primary reason for the decline.

On the other hand, Hong Kong's HANG SENG INDEX saw a slight increase of 47.18 points or 0.25 percent, finishing the day at 19,299.18. The index managed to buck the trend and end on a positive note.

Moving to China, the SSE Composite Index, tracking Shanghai stocks, recorded a gain of 15.83 points or 0.49 percent to close at 3,213.59. The market witnessed increased buying activity, with a trading volume of 3.583 billion.

Similarly, the Shenzhen Index, representing the Shenzhen Stock Exchange, ended the day at 10,722.87 after gaining 14.05 points or 0.13 percent. Market participants attributed the marginal growth to improved investor sentiment and increased trading volume of 2.221 billion.

Down under, the S&P/ASX 200 in Australia closed at 7,099.70, down 18.30 points or 0.26 percent. The index faced selling pressure during the trading session, resulting in a slight decline. Meantime the Australian All Ordinaries index closed at 7,288.30, down 22.10 points or 0.30 percent. The index experienced moderate selling pressure, resulting in a marginal decline.

Singapore's STI Index closed at 3,186.61, up 7.03 points or 0.22 percent. The index managed to stay in positive territory, supported by gains in several key stocks.

The S&P BSE SENSEX in India closed at 62,848.64, down 294.32 points or 0.47 percent. The index faced selling pressure, mainly driven by profit-taking activities and global market uncertainties. India's NIFTY 50 closed at 18,634.55, down 91.85 points or 0.49 percent. The index faced selling pressure, primarily driven by profit-taking activities and global market uncertainties.

In Indonesia, the IDX COMPOSITE ended the day at 6,666.33, up 46.58 points or 0.70 percent. The index displayed strength and recorded gains, supported by positive investor sentiment and increased trading activity.

Meanwhile, Malaysia's FTSE Bursa Malaysia KLCI closed at 1,374.64, down 4.01 points or 0.29 percent. The index experienced a slight decline as investors remained cautious amid global economic uncertainties.

New Zealand's S&P/NZX 50 INDEX GROSS (GROSS) closed at 11,715.74, down 43.41 points or 0.37 percent. The index faced modest selling pressure, resulting in a minor decline.

In South Korea, the KOSPI Composite Index closed at 2,610.85, down 4.75 points or 0.18 percent. The index witnessed a slight dip as concerns over global economic conditions persisted.

Taiwan's TSEC weighted index closed at 16,733.69, down 188.79 points or 1.12 percent. The index faced selling pressure, primarily driven by profit-taking activities and external market factors.

In the Middle East, in Israel, the TA-125 closed at 1,801.02, up 10.51 points or 0.59 percent. The index recorded gains, driven by positive performances in key sectors and increased trading volume.

Egypt's EGX 30 Price Return Index closed at 17,521.40, up 173.80 points or 1.00 percent. The index displayed strength and recorded gains, supported by positive investor sentiment and improved market conditions.

Across to Africa, the Top 40 USD Net TRI Index in South Africa exhibited positive momentum, rising by 42.63 points or 1.05 percent to reach 4,088.27.

Overall, Thursday's global stock market closures reflected a mixed performance, with some indices ending the day in positive territory, while others experienced slight declines. Market participants remained cautious amidst ongoing global economic uncertainties and closely monitored developments in various sectors and regions.

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