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U.S. stock indexes were weak on Monday ahead of the Federal Reserve’s monetary policy meeting scheduled for Jan. 30-31 and earnings calls from big tech companies.
As of 11:27 a.m. ET, the Dow Jones Industrial Average was down 16.46 points, or 0.04%, at 38,092.97, the S&P 500 Index was up 1.04 points, or 0.02%, at 4,892.01, and the Nasdaq Composite Index was up 27.38 points. 15,482.74, 0.18%.
The Dow Jones Industrial Average rose 6.40 points (0.02%) to 38,115.83. The S&P 500 Index opened 1.98 points, or 0.04%, higher at 4,892.95, and the Nasdaq Composite Index rose 15.29 points, or 0.10%, to 15,470.66 at the opening bell.
Please also read: The week ahead on Wall Street: Investors’ main focus will be on Fed interest rate decisions and big tech earnings
The U.S. central bank is widely expected to keep interest rates on hold, but investors and traders will look to the outcome of the Fed meeting and Chairman Powell’s press conference to determine whether the central bank will begin lowering rates at its next monetary policy meeting in March. I’ll pay attention to the signals.
On Friday, the S&P 500 index fell 3.19 points, or 0.1%, to 4,890.97. The Dow Jones Industrial Average rose $60.30, or 0.2%, to $38,109.43. The Nasdaq Composite fell $55.13, or 0.4%, to 15,455.36.
The US dollar strengthened and the euro fell to its lowest level in nearly seven weeks.
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In Europe, the STOXX600 index briefly hit a two-year high, and rose slightly on the day.
Britain’s FTSE 100 index was flat at 7,632.74. France’s CAC40 index rose less than 0.1% to 7,640.81. Germany’s DAX fell 0.1% to 16,941.71.
In Asian stock markets, Hong Kong’s Hang Seng Index rose 0.8% to 16,077.24. China’s Shanghai Composite Stock Price Index fell 0.9% to 2,883.36.
Japan’s Nikkei Stock Average rose 0.8% to 36,026.94.
Oil prices rose on Monday after a drone attack on U.S. troops in Jordan heightened concerns about supply disruptions in the Middle East.
Brent crude futures rose 21 cents to $83.76 a barrel by 11:17 a.m. Japan time, while U.S. West Texas Intermediate crude futures rose 21 cents to $78.22.
Gold prices rose on Monday following growing concerns over tensions in the Middle East.
As of 1325 GMT, spot gold was up 0.5% at $2,029.10 an ounce, while U.S. gold futures were up 0.6% at $2,029.50.
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