This Friday, the US stock market closed slightly lower, but thanks to a strong rebound at the end of 2023, all three major US stock indexes rose for the ninth consecutive week. The Dow Jones Industrial Average rose 0.81% this week, and the Nasdaq rose 0.12%, both setting the longest weekly consecutive rise record since 2019. The S&P 500 index rose 0.32%, achieving its longest weekly consecutive rise since 2004. In December, the Dow Jones Industrial Average rose 4.84%, the Nasdaq rose 5.52%, and the S&P 500 index rose 4.42%.
In 2023, the three major stock indexes in the United States have accumulated gains
This Friday is the last trading day of 2023, and the three major stock indexes in the United States have achieved a cumulative increase throughout the year. Driven by factors such as the rebound of large technology stocks and the popularity of artificial intelligence concept stocks, the Nasdaq performed better than the overall market. In 2023, the wave of artificial intelligence has driven the stocks of the “Big Seven” in the US stock market, such as Nvidia and Microsoft, to rise significantly, driving the tech dominated Nasdaq to deliver impressive results. After a 33% drop last year, the Nasdaq rose 43.4% for the entire year of 2023, making it the best performing year since 2020. The Dow Jones Industrial Average has risen by 13.7%, while the S&P 500 index has risen by 24.2%.
In 2023, the cumulative decline in international oil prices exceeded 10%
In terms of commodities, international oil prices fell slightly this Friday. This week, the main contract prices for light crude oil futures on the New York Mercantile Exchange have fallen by a cumulative 2.6%; The main contract price of London Brent crude oil futures fell by 2.57%.
Looking at the entire year of 2023, the cumulative decline of US crude oil was 10.73%, while the decline of oil distribution was 10.32%, falling back after two consecutive years of gains. Analysis shows that the market is concerned about oversupply in the crude oil market, leading to bearish sentiment dominating the market.
International gold prices rose by over 13% in 2023
In terms of gold price, this Friday, the gold futures market of the New York Mercantile Exchange, the most actively traded gold futures market in February 2024, closed at $2071.8 per ounce, down 0.56%. The rise in the yield of US treasury bond bonds is considered to be the main reason for the fall in gold prices that day.
From this week’s perspective, the main contract price of gold futures on the New York Mercantile Exchange has accumulated a 1.30% increase; From the full year of 2023, its main contract prices have risen by 13.45%, achieving the largest annual increase since 2020.
In 2023, the international gold price reached a record high of $2135.40 per ounce. Investors expect gold prices to reach a historic high next year, as the market generally expects a dovish shift in the Federal Reserve’s policies, ongoing geopolitical risks, and central bank purchases of gold, all of which will continue to support the gold market.
(Source: CCTV Finance)
Post time: Dec-30-2023
