US stocks ended the month of September with declines by closing the last sessions of September and the third quarter of this year yesterday, Thursday, after a loss of more than 500 points in the Dow Jones Industrial Average, which records a monthly loss for the first time in seven months, despite the recent moves by Congress to avoid the government shutdown.
US President Joe Biden signed legislation to fund the government until December 4, after the Senate approved it with the approval and vote of 65 members, and the House of Representatives approved by 254 votes. It will give the government time to discuss raising the debt ceiling Markets await the Senate’s vote on a temporary law that prevents disruption of the federal government – Fayez Al-Ajmi (fayezalajmi-4x.com)
The testimony of Janet Yellen, US Secretary of the Treasury, and Jerome Powell, President of the US Federal Reserve, before the House of Representatives, topped the events of the American session, as Janet Yellen expressed her fears of the US debt default and its consequences, and indicated that the default would lead to a strong financial crisis.
On the other hand, Jerome Powell spoke about inflation and announced that the Fed The American will use all his available tools if there are serious fears of a rise in inflation above the target.
The Dow Jones Industrial Average closed down by about (546) points at the close at 33,843 levels, a loss of about 1.59% and a monthly loss estimated at 4.29% in the worst monthly performance since March of last year and a quarterly loss estimated at 1.9% in the third quarter, and it is trading now In the futures for today’s session, Friday, the first session of October, at 33.489 levels, down by about 233 points.
While the S&P 500 index recorded declines at closing at 4.307 levels, down by about (51), recording declines by about 1.19% and a monthly loss of about 4.79%, despite the quarterly gains estimated at 0.2%, and it is now trading in futures at 4.272 levels on Retreat by about 24 points.
While the Nasdaq Index recorded declines by (63 points), to close the session at 14.448 points, recording losses of about 0.44% and a monthly loss estimated at 5.31% in its worst monthly performance in ten years, but it rose in the third quarter by about 0.4% and is now trading at levels 14,606, down by about 75 points.
06/11/2024
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