US stocks ended the week's green trading session with new highs for both the Dow Jones Industrial Average and the S & P 500 as well as the Nasdaq Composite as technology stocks led Wall Street rallies that helped the Nasdaq perform better daily in more From a year with a rise of more than two percent.
The S & P 500 posted its seventh consecutive straight gain, marking the longest rally in Wall Street gains in three years amid the business season for major US companies and banks, the nerve center of the world's largest economy. About the growing opportunities for tax reforms adopted by US President Donald Trump.
We have followed the US economy to reveal the preliminary reading of GDP, which showed the widest economy in the world 3.0% in the third quarter compared to 3.1% growth in the final reading for the second quarter, exceeding the expectations of a growth of 2.6%, while the preliminary reading of the output GDP growth accelerated to 2.2% from 1.0% in the second quarter, above expectations of 1.7%, in conjunction with a reading of the labor force labor force for the quarter itself, slowing growth below expectations.
To the final reading of the University of Michigan consumer confidence index, which came in at 100.7 compared to the previous reading at 101.1 and expectations at 100.8 and 95.1 in the previous reading for the month of September, amid rising economic conditions and economic outlook in October, While the sub-data for the indicator showed a decline in inflation expectations for one year and stability for five years.
Otherwise, some report said earlier today that US President Trump favors choosing Federal Open Market Committee member Jerome Powell to replace the current Federal Reserve, Janet Yellen, who will expire in February at the Federal Open Market Committee chair, Considered by markets as a continuation of monetary policy pursued by the Federal Reserve.
The Dow Jones Industrial Average closed 0.14% higher at 33.33 points at 23,434.19 points. The Standard & Poor's 500 Index gained 0.81% or 20.67 points to close at 2,581.07 points, while the Nasdaq composite rose 2.20% Or 144.49 to close at 6,701.26 points.
Gold futures for December delivery rose 0.17% to currently trade at $ 1,271.80 per ounce at $ 1,279.60 per ounce, while the dollar index rose 0.21% to 94.81, its highest level since July 20 compared to the opening at 94.61.
On the other hand, NYMEX crude futures for December delivery rose 2.39% to currently trade at $ 53.90 a barrel, marking a seven-month high of $ 52.64 a barrel. Brent crude futures December delivery 1.92% currently trading at $ 60.44 per barrel, compared to the opening price of $ 59.30 per barrel.