US indices recorded declines at the close of the trading session on Wednesday, bringing the Dow Jones Industrial Average down for the third consecutive session, affected by US Treasury Secretary Janet Yellen’s statements regarding the US debt ceiling, in addition to the high market expectations that the US Federal Reserve will start reducing its purchases of bonds for the remainder of the year, ignoring the slowdown in employment data.
The US released last week came less than expected.
New York Federal Reserve Chairman John Williams indicated during Wednesday’s session that the US Federal Reserve should start reducing the pace of its $120 billion in bond purchases per month later this year if the US economy continues to improve. Lewis James Pollard told the Financial Times that the reduction in bond purchases should begin within this year.
Meanwhile, Janet Yellen, US Treasury Secretary Janet Yellen urged Congress to raise the debt ceiling and indicated that the possibility of a default by the United States of America might affect the financial markets.
The Dow Jones Industrial Average closed down by (68) points at the close at 35.031 levels, a loss of about 0.20%, and is now trading in the futures for today’s session, Thursday, at 34.870 levels, down by 142 points.
While the S&P 500 index recorded declines at the close at 4.514 levels, down by about 5 points, or 0.13%, and is now trading in futures at 4.486 levels, down by about 17 points.
While the Nasdaq index recorded losses by (87 points) to close the session at 15.286 points, recording declines of about 0.57%, and it is now trading at levels of 15.570, down by about 40 points.
06/11/2024
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