Dow Jones, S&P 500, Nasdaq: Falling oil prices support US stock markets
The major US stock market indexes are falling again. On Wall Street, the increase in producer prices in August is fueling speculation about an imminent interest rate hike by the Fed.
US stock markets ended the week on a positive note, with the Dow Jones, S&P 500, and Nasdaq Composite all rising. The Dow Jones gained 1% to 52,584 points, while the S&P 500 and Nasdaq Composite rose by nearly 1% and 1.1%, respectively. The surge is attributed to declining oil prices, which have dropped from recent highs, with Brent crude now at $105 per barrel and WTI at around $100 per barrel.
Despite tensions in the Middle East, where the Huthi militia has taken control of Yemen's Red Sea coast, inflation figures for August met expectations, with a rate of 3.4%, likely leading to a US Federal Reserve interest rate hike next week.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
