Wall Street closes higher after volatile session

2019-08-15 22:06:25 GMT (Economies.com)
Wall Street closes higher after volatile session

Most of the US stocks rose today after a volatile trading session amid markets' concerns over the recession odds that loom around the US economy .

 

While after Wednesday's sharp losses due to US bond yield curve inversion, several of the current and former US Fed bankers came out to reassure markets that the inversion doesn't necessarily mean a near recession this time around.

 

Furthermore, the former Fed chairwoman, Janet Yellen, also said that the yield curve inversion doesn't have to be a signal of recession this time, as the US economy is still strong, which was also confirmed by the current FOMC member, James Bullard.

 

The US economy revealed today that retail sales rose by 0.7% in July, while unemployment claims rose by 9,000 last week to 220,000.

 

In oil market, WTI fell by 1.4% to close at $54.47 a barrel, with a high of $55.3 and a low of $53.7.

 

Brent fell by 2.1% to $58.23 a barrel, with a high of $59.4 and a low of $57.6.

 

Dow Jones rose by 0.4% or 100 points to close at 25,579, with a high of 25,639 and a low of 25,339.

 

S&P 500 rose 0.2% (7 points) to 2,847 points, with a high of 2856 and a low of 2825.

 

Nasdaq tilted lower by 7 points to 7,766 points, with a high of 7,806 and a low of 7716.

 
 
 
  Symbol Last Change Chg.%
1.1020
0.0000
0.0045%
1.2472
0.0003
0.0236%
17.964
0.513
2.940%
58.477
3.583
6.527%
64.28
-0.12
0.19%
1516.410
27.430
1.842%
 
 
US
 
Europe
 
Asia