How major USA stock market indexes fared Monday

Paterniano Del Favero
Agosto 17, 2017

Also weighing on gold prices was the prospect of another increase in US interest rates, with an influential Federal Reserve official saying on Monday he would support one more rate rise this year.

USA stocks rebounded on Monday, reversing some of the losses that were triggered last week by rising tensions between the United States and North Korea.

MSCI's world equity index gained 0.75 percent .MIWD00000PUS and the US benchmark S&P 500 rebounded to close up 1 percent after its biggest weekly loss in nearly five months, marking just the third time the USA benchmark has boasted a 1-percent daily gain in 2017.

Oil investors, however, had little to celebrate with daily declines of more than 2 percent.

The Dow Jones Industrial Average rose 5.28 points, or 0.02 percent, to 21,998.99, the S&P 500 lost 1.23 points, or 0.05 percent, to 2,464.61 and the Nasdaq Composite dropped 7.22 points, or 0.11 percent, to 6,333.01.

"Tensions might flare up again".

Major financial stocks were among the index's most influential gainers, although the group only notched a 0.1 percent overall.

How major USA stock market indexes fared Monday

The shift to riskier assets is doubly negative for gold because a stronger dollar makes dollar-priced gold costlier for holders of other currencies, while higher bond yields raise the opportunity cost of holding non-yielding bullion.

At 10:16 a.m. ET (1416 GMT), the Toronto Stock Exchange's S&P/TSX composite index.GSPTSE was down 26.79 points, or 0.18 percent, at 15,093.12.

The U.S. dollar rose to its highest in almost three weeks against a basket of major currencies for two main reasons, according to Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington, D.C.

The yield rise was also underpinned by an Associated Press report that New York Federal Reserve President William Dudley would support another interest rate hike if economic data meets his expectations.

S&P 500 e-minis were up 4.75 points, or 0.19 percent, with 168,210 contracts traded. Oil prices tumbled in a volatile session, hurt by the rising dollar and weak domestic demand data from China.

Brent crude, the global standard, shed 1.37 United States dollars, or 2.6%, to 50.73 USA dollars a barrel in London.

Gold was out of favor on Monday after clocking a 2.46 percent jump and hitting two-month highs last week. Spot gold was down 0.76 percent at $1,277.18 per ounce.

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