15 July 2024 – A strong recovery on Wall Street after good inflation data from the previous day sent the Dow Jones Index above the 40,000 mark. And Asian commodity prices were friendly on SHFE and DCE on Monday.
Dow climbs above the 40,000 point mark on Friday
A strong recovery on Wall Street at the end of the week pushed the Dow Jones index above the 40,000-point mark to a new record high. However, the indices gave back some of their gains in late trading, but closed positive overall.
The good inflation data from the previous day kept investors confident that the US Federal Reserve will start cutting interest rates in September. The probability was still priced in at 90 percent on Friday.
The German stock index DAX closed up 1.15% on Friday and is at its highest level for 5 weeks.
Asian raw material prices show a positive development
Raw material prices on the Asian markets were mostly friendly on Monday. Coking coal (+0.92%), coke (+2.30%) and iron ore (+1.02%) rose on the Dalian Commodity Exchange (DCE). Nickel rose by around 0.46% on the Shanghai Futures Exchange (SHFE), followed by lead with a gain of 0.33% and copper by 0.35%.
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