Dow Jones gains as broader US markets struggle

NEW YORK, New York – U.S. stocks had a split day Monday as investors and traders speculated about what the Federal Reserve will do this week after the monthly FOMC meeting. The market firm believes interest rates will eventually be cut, but they were divided on whether it will be a quarter of a percent or a half of a percent.

“If the Fed starts by cutting rates by 50 basis points, but reiterates that it is doing so to maintain a soft landing for the economy, that would be positive for the stock market,” XTB research director Kathleen Brooks told Reuters on Monday.

“If it looks like the Fed has to panic-cut interest rates because of some gray clouds on the horizon, expect stocks to sell off,” she said.

Monday ended with a clear gain on the Dow Jones index, a decline on the Nasdaq Composite and a drop on the Standard and Poor’s 500 index just above zero.

Here are the final quotes from Monday:

This Standard and Poor’s 500 rose 7.07 points, or 0.13 percent, to close at 5,633.09. Despite ongoing market volatility, the index managed to rise modestly, reflecting the resilience of some sectors of the broader market. Intraday trading volume reached 2.256 billion shares.

This Dow Jones Industrial Average (DJI) had a strong performance, rising 228.30 points, or 0.55 percent, to close at 41,622.08. The Dow benefited from gains in blue-chip stocks, while sentiment was boosted by positive economic data. Total trading volume was 377.728 million shares.

On the other hand, NASDAQ Composite fell 91.85 points, or 0.52 percent, to end at 17,592.13. The tech index struggled as some larger tech stocks retreated, leading to a negative close. Trading volume for the NASDAQ came in at 4.145 billion shares.

Overall, market activity on Monday reflected a divergence across sectors, with rate-sensitive technology stocks coming under pressure while industrials and financials showed resilience.

Monday’s FX Update: Mixed Performance for Major Currencies

Overall, the currency market showed a mix of gains and losses on Monday, with the British pound and Australian dollar emerging as the top performers, while the US dollar also weakened against the Swiss franc and the euro. Here’s a breakdown of the latest quotes from late US trading on Monday:

This Euro/US Dollar (EUR/USD) The pair strengthened, rising 0.46 percent to close at 1.1123. The gain reflected continued support for the euro against the U.S. dollar, driven by European economic data.

Meanwhile, US Dollar/Japanese Yen (USD/JPY) rose slightly 0.03 percent to close at 140.81. The small change underscores the relative stability of the exchange rate between these two major currencies, following recent strong gains in the Japanese yen, including Monday’s 1-year intraday high.

This US Dollar/Canadian Dollar (USD/CAD) The pair also posted modest gains, rising 0.06 percent to last trade at 1.3591. The gain indicates mild strengthening of the U.S. dollar against the Canadian dollar.

This British Pound/US Dollar (GBP/USD) The currency pair saw wider fluctuations, with the British pound rising 0.68 percent to 1.3209.

In contrast to this, US Dollar/Swiss Franc (USD/CHF) The pair fell 0.37 percent to close at 0.8456 as the Swiss franc strengthened against the US dollar.

This Australian Dollar/US Dollar (AUD/USD) The pair posted a strong performance, rising 0.68 percent to 0.6746. The Australian dollar benefited from positive sentiment in the region’s beleaguered commodity markets.

At the end, New Zealand Dollar/US Dollar (NZD/USD) rose 0.55 per cent, last changing hands at 0.6189. The rise reflects improving economic conditions in New Zealand, strengthening the Kiwi against the US dollar.

Based on Monday’s moves, US Dollar Index fell 0.35 points to 100.77, a decline of 0.34 percent.

Global stock market closing on Monday: Mixed performance of key indices

Global stock markets saw a mix of gains and losses on Monday, with some indices posting modest gains while others saw significant declines. Here’s a detailed look at how the major indices performed:

CANADA

In Canada S&P/TSX Composite Index posted a strong gain of 133.42 points, or 0.57 percent, to close at 23,702.07. The Canadian market benefited from strength in the energy and financial sectors, which pushed the index higher.

UNITED KINGDOM

This FTSE100 In London on Monday, the stock exchange closed at 8,278.44, gaining 5.35 points or 0.06 percent.

EUROPE

However, in Germany DAX Performance Index fell by 66.29 points, closing at 18,633.11, which means a decrease of 0.35 percent.

France CAC40 It also dropped by 15.81 points and closed at 7,449.44, down 0.21 percent.

This Euro Stoxx 50 The stock witnessed a similar trend, losing 16.36 points to close at 4827.63, representing a decline of 0.34 percent.

This Euronext100 also fell, closing at 1,466.78 after falling 4.64 points, or 0.32 percent.

ASIA

On Asian markets Hang Seng Index In Hong Kong, the stock rose by 53.03 points to close at 17,422.12, up 0.31%.

China SSE Composite Index fell by 13.03 points, closing at 2704.09, which is a decrease of 0.48 percent.

In Japan Nikkei 225 recorded a significant decline of 251.54 points to close at 36,581.76, down 0.68 percent.

Singapore STI Index It gained 7.78 points and closed at 3570.43, which is an increase of 0.22 percent.

In India S&P BSE Sensex rose by 97.84 points and closed at 82,988.78, which is an increase of 0.12 percent.

This IDX Composite in Indonesia rose 13.98 points to close at 7812.13, up 0.18.

Malaysia Malaysian Stock Exchange KLCI was among the indexes that performed better, gaining 13.84 points and closing the session at 1,652.15, an increase of 0.84 percent.

South Korea KOSPI Composite Index posted a modest gain of 3.32 points to close at 2,575.41, up 0.13 percent.

In Taiwan TSEC Weighted Index It rose by 90.43 points and closed at 21,850.08, which means an increase of 0.42 percent.

OCEAN

Australia S&P/ASX200 closed higher at 8121.60, up 21.70 points or 0.27 percent, while the Australian All the usual ones also rose 17.60 points to close at 8,341.10, up 0.21 percent.

Meanwhile, New Zealand S&P/NZX 50 Index fell significantly by 128.16 points, closing at 12,704.39, which is a decrease of 1.00 percent.

MIDDLE EAST

Elsewhere, Egypt EGX 30 Price Return Index fell by 237.60 points and closed at 30,260.20, which is a decrease of 0.78 percent.

This Index TA-125 Israel saw a bigger decline, falling 32.92 points to end at 2016.56, a loss of 1.61 percent.

AFRICA

South Africa’s JNOU.JO index rose 8.43 points, or 0.19 percent, to 4,520.21.