NEW YORK, New York - U.S. stocks traded in a tight range Wednesday ahead of the September CPI report which will be released prior to the opening bell on Thursday morning. Buyers however got the upper hand heading towards the close, resulting in all the major indices finishing in the black. Technology stocks fared best.
Meantime, the Producer Price Index for final demand increased 0.5 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported Wednesday. This was well above expectations for a 0.5 percent increase. Final demand prices rose 0.7 percent in August and 0.6 percent in July. Leading the increase in the final demand index in September, prices for final demand goods rose 0.9 percent. The index for final demand services advanced 0.3 percent.
Here are Wednesday's closing quotes for the major indices:
S&P 500 (^GSPC) The Standard and Poor's 500 index (S&P 500) wrapped up the trading day at 4,376.95, gaining 18.71 points, an increase of 0.43 percent. With a trading volume of 2.106 billion shares, this widely followed indicator of the U.S. stock market saw significant activity.
Dow Jones Industrial Average (^DJI) The Dow Jones Industrial Average (Dow Jones) had a similarly positive day Wednesday, closing at 33,804.87 points, up 65.57 points, or 0.19 percent. The trading volume for the Dow was 254.959 million shares. It was a day of incremental gains for this renowned index.
NASDAQ Composite (^IXIC) The technology-heavy NASDAQ Composite (NASDAQ) outperformed the other indices, closing at 13,659.68 points, an impressive gain of 96.83 points or 0.71 percent. The NASDAQ saw robust trading activity with 3.638 billion shares exchanged. Tech stocks contributed significantly to its rise.
Little Respite for U.S. Dollar on Foreign Exchange Markets | Forex Market Update: Wednesday's Exchange Rates
In the world of international currency exchange, Wednesday saw a mix of fluctuations and adjustments across major currency pairs with the U.S. dollar making minor gains against some currencies, particularly the commodity bloc, while incurring modest losses against others. Here are the latest foreign exchange market quotes for Wednesday:
EUR/USD (Euro/US Dollar)
- Exchange Rate: 1.0613
- Percent Change: An increase of 0.08 percent, or +0.0008
The Euro edged up against the U.S. Dollar, posting a modest 0.08 percent increase.
USD/JPY (US Dollar/Japanese Yen)
- Exchange Rate: 149.18
- Percent Change: A rise of 0.32 percent, or +0.47
The U.S. Dollar, going against the trend, strengthened against the Japanese Yen, gaining 0.32 percent during Wednesday's trading.
USD/CAD (US Dollar/Canadian Dollar)
- Exchange Rate: 1.3599
- Percent Change: A boost of 0.12 percent, or +0.0016
The U.S. Dollar appreciated by 0.12 percent against the Canadian Dollar on Wednesday, indicating a slight uptrend.
GBP/USD (British Pound/US Dollar)
- Exchange Rate: 1.2310
- Percent Change: An increase of 0.20 percent, or +0.0024
The British Pound displayed strength, advancing 0.20 percent against the dollar.
USD/CHF (US Dollar/Swiss Franc)
- Exchange Rate: 0.9021
- Percent Change: A decrease of 0.23 percent, or -0.0021
Conversely, the U.S. Dollar took a step back, losing 0.23 percent of its value when paired with the Swiss Franc.
AUD/USD (Australian Dollar/US Dollar)
- Exchange Rate: 0.6408
- Percent Change: A decrease of 0.35 percent, or -0.0022
The Australian Dollar dipped, registering a 0.35 percent decrease against the greenback.
NZD/USD (New Zealand Dollar/US Dollar)
- Exchange Rate: 0.6020
- Percent Change: A drop of 0.41 percent, or -0.0025
Likewise, the New Zealand Dollar weakened, falling by 0.41 percent when compared to its U.S. counterpart.
Global Stock Markets See Big Gains in South Korea, South Africa and Hong Kong Wednesday
In the world of global stock markets, Wednesday saw a mixed bag of results, with indices fluctuating as investors closely watched economic indicators and geopolitical developments. Here's a breakdown of key stock market quotes for the day:
S&P/TSX Composite Index (^GSPTSE) Canada's S&P/TSX Composite Index (S&P/TSX) enjoyed a strong day, closing at 19,663.84 points, a gain of 162.64 points, equivalent to 0.83 percent. The trading volume for the S&P/TSX was 202.937 million shares. The Canadian market posted solid gains in line with its American counterparts.
FTSE 100 (^FTSE) The London Stock Exchange's FTSE 100 index closed at 7,620.03, marking a slight dip of -8.18 points, or a -0.11 percent decrease.
DAX PERFORMANCE-INDEX (^GDAXI) Germany's DAX Performance-Index was up Wednesday, closing at 15,460.01, showing a positive gain of +36.49 points, which amounts to a +0.24 percent increase.
CAC 40 (^FCHI) The CAC 40 in France wrapped up the day at 7,131.21, experiencing a decline of -31.22 points, or a -0.44 percent decrease.
ESTX 50 PR.EUR (^STOXX50E) The Eurozone's ESTX 50 PR.EUR closed at 4,200.80, marking a slight dip of -4.43 points, or a -0.11 percent decrease.
Euronext 100 Index (^N100) The Euronext 100 Index ended at 1,323.60, experiencing a decrease of -6.56 points, or a -0.49 percent decline.
BEL 20 (^BFX) Belgium's BEL 20 index showed a slight increase Wednesday, closing at 3,548.89, up by +7.95 points, or +0.22 percent.
MOEX Russia Index (IMOEX.ME) The MOEX Russia Index closed at 2,222.51, down -4.14 points, or a -0.19 percent decrease.
Nikkei 225 (^N225) Japan's Nikkei 225 performed well, ending at 31,936.51, up by +189.98 points, a gain of +0.60 percent.
HANG SENG INDEX (^HSI) Hong Kong's Hang Seng Index showed strong gains, closing at 17,893.10, up by +228.37 points, representing a significant increase of +1.29 percent.
SSE Composite Index (000001.SS) Shanghai's SSE Composite Index reached 3,078.96 Wednesday, rising by +3.72 points or +0.12 percent, with a trading volume of 222.065 million shares.
Shenzhen Index (399001.SZ) China's Shenzhen Index finished the day at 10,084.89, a gain of +34.86 points, or +0.35 percent, with a trading volume of 1.573 billion shares.
STI Index (^STI) Singapore's STI Index finished at 3,192.87, experiencing a small decline of -6.20 points, or a -0.19 percent decrease.
S&P BSE SENSEX (^BSESN) In India, the S&P BSE SENSEX closed at 66,473.05, showing a strong gain of +393.69 points, equivalent to +0.60 percent.
NIFTY 50 (^NSEI) India's NIFTY 50 index also displayed strength Wednesday, closing at 19,811.35, up by +121.50 points, or +0.62 percent.
IDX COMPOSITE (^JKSE) Indonesia's IDX Composite closed at 6,931.75, up by +9.56 points, or +0.14 percent.
FTSE Bursa Malaysia KLCI (^KLSE) Malaysia's FTSE Bursa Malaysia KLCI showed modest growth, closing at 1,436.49, up by +1.32 points, or +0.09 percent.
S&P/NZX 50 INDEX GROSS (GROSS) (^NZ50) New Zealand's S&P/NZX 50 INDEX GROSS closed at 11,306.44, up by +13.06 points, or +0.12 percent.
KOSPI Composite Index (^KS11) South Korea's KOSPI Composite Index displayed a strong performance Wednesday, closing at 2,450.08, up by +47.50 points, representing a substantial increase of +1.98 percent.
TSEC weighted index (^TWII) Taiwan's TSEC weighted index closed at 16,672.03, up by +151.46 points, or +0.92 percent.
S&P/ASX 200 (^AXJO) Australia's S&P/ASX 200 closed at 7,088.40, with a notable increase of +47.80 points, equivalent to +0.68 percent.
ALL ORDINARIES (^AORD) The Australian ALL ORDINARIES index also displayed gains, closing at 7,281.30, up by +50.30 points, or +0.70 percent.
Top 40 USD Net TRI Index (^JN0U.JO) South Africa's Top 40 USD Net TRI Index displayed remarkable growth Wednesday, closing at 3,893.45, up by +54.97 points, indicating a substantial increase of +1.43 percent.
TA-125 (^TA125.TA) In Israel, which is acurrently a war zone, the TA-125 index ended at 1,746.32, with a decrease of -25.51 points, or a -1.44 percent decline.
EGX 30 Price Return Index (^CASE30) Egypt's EGX 30 Price Return Index closed at 19,653.50, showing a decrease of -70.80 points, or a -0.36 percent decline, with a trading volume of 133.217 million shares.
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