US Markets LIVE: Dow Jones, S&P 500 and Nasdaq Composite Index – 14 Nov 2023

 

US Markets LIVE, 14 Nov 2023: The US stock market indexes opened a gap-up on Tuesday after consumer price inflation data came better than expected in October.

Dow Jones Industrial Average (DJIA) opened higher by 243.33 points at 34581.20, while the S&P 500 index jumped 47.42 points and opened at 4458.97. The Nasdaq Composite index opened a gap-up of 247.63 points at the 14015.37 level.

 

US Markets Live Updates Today

 

At 11.50 a.m. EDT, The US markets are trading strongly. The Dow Jones Industrial Average (DJIA) is trading higher by 574.42 points or 1.67 percent at the 34912.29 level while the S&P 500 index added  87.39 points or 1.98 percent at 4498.94 levels. The tech-heavy Nasdaq Composite index also extended its early gains and is trading higher by 308.53 points or 2.24 percent at 14076.27 levels. 

 

US Market News

 

U.S. stock market indexes extended their early gains, as the CPI inflation came flat in October, while the expectation was a rise of 0.1% month over month. On an annual basis, inflation rose by 3.2% in October down from a rate of 3.7% in September and the expectation was 3.3%. The core CPI inflation excluding food and energy prices also came lower than expected and slowest in two years.

This fueled the optimism among investors that the Federal Reserve may be closing its monetary policy tightening cycle. After the inflation reading, fed-funds futures tools showed traders had completely removed any chance of a hike in its December meeting, prior to the report, it was about a 14% chance.

Treasury yields fell sharply after the inflation reading. The 10-year US Treasury yields dropped significantly to 4.441%, down by 0.195 points, it settled at 4.636% on Monday.

 

Also read, Stock Market Prediction Next Week (13 – 17 Nov 2023)

 

US Stocks In News

 

The shares of Home Depot gained more than 6% on better-than-expected third quarterly earnings. However, the guidance given by the retailers was not very optimistic.

Other retailers, Target is trading above 5% ahead of the quarterly earnings scheduled on Wednesday, while Walmart and Macy’s are trading higher by 0.6% and 10% respectively, ahead of their quarterly earnings.

The share price of Enphase Energies, Boston Properties, and Solar Edge Technologies are trading by 9% to 13% respectively, lifting the S&P500 index.

 

Crude Oil Prices

 

Crude oil prices are trading higher on Tuesday after the International Energy Agency raised its oil demand growth forecast for this and next despite economic uncertainty.

The US WTI crude is trading higher by 1.06% at $79.10 per barrel while London-based Brent crude oil is also up by 1.10% at $83.45 per barrel.

 

Also, read –  Global Stock Market Today (14 Nov 2023) : Asian markets are trading higher

 

If you like the post “US Markets LIVE: Dow Jones and Nasdaq Composite Index Sept 28, 2023” please share it with others

 

Happy Investing!

Editor’s Desk