The US economy is growing slowly | IFCM India
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The US economy is growing slowly

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    2023/02/27
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IFC मार्केट्स से नवीनतम अद्यतन प्राप्त करने के लिए हमारे आधिकारिक चैनल की सदस्यता लें

The dollar index continued to decline for the third consecutive week and fell to its 13-month low. S & P 500 and Nasdaq remained almost unchanged, and the Dow index rose by 1.2%. The beginning of the last week turned out to be positive. On Tuesday, the US consumer confidence index for July was published. It markedly exceeded the forecasts reaching the 16-year high. In addition, positive quarterly reports of several major corporations such as McDonald's and Caterpillar came out. S&P 500 updated its historic high. Investors increased the forecast of the total profit of the companies from the S&P 500 list for Q2 of this year to 9.1%. The dollar index slightly rose. On Wednesday, the Fed regular meeting took place.

As expected, the US regulator kept the rate at 1.25% and left its monetary policy unchanged. At the same time, it noted that the US economy is growing slowly, inflation has not yet reached the target level of 2%, the labor market is stable. This information slightly disappointed investors. According to the FedWatch interest rate futures, the probability of the Fed rate hike this year fell less than 50%. The dollar index fell on this background. The euro updated its 23-month high against the US dollar. Stock indices slightly increased due to the positive reports of Boeing aircraft manufacturer. On Thursday, they corrected down on the background of the weak quarterly results of Amazon.com. In general, the corporate reports of industrial companies were better than those of the high-tech sector, which allowed the Dow Jones Industrial Average index to close “in the black” at the end of the week. On Friday, the prices fell in the US stock market due to weak reports of Exxon and Starbucks. An additional negative appeared after the U.S. Food and Drug Administration announced its plans to require a significant cut of nicotine in cigarettes. After that, the stocks of tobacco companies British American Tobacco and Altria sharply fell. The dollar index fell, as investors were disappointed with the US GDP data. It grew by 2.6% in Q2 of this year, while it was expected to grow by 2.7%. In addition, the GDP growth in Q1 was revised down from 1.4% to 1.2%.

As expected, the US regulator kept the rate at 1.25% and left its monetary policy unchanged. At the same time, it noted that the US economy is growing slowly, inflation has not yet reached the target level of 2%, the labor market is stable. This information slightly disappointed investors.

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