Wall Street is bright green

VTV.vn - US stocks recorded positive results in the first trading session of the week with major indexes all increasing strongly.

Traders at the New York Stock Exchange, USA. (Photo: AFP/VNA)

Wall Street stocks continued to recover on November 24, as new hopes of the US Federal Reserve (Fed) cutting interest rates helped improve market sentiment after a volatile week due to concerns about a technology "bubble".

At the end of trading in New York, the Dow Jones industrial average rose 0.5% to 46,456.05 points. The S&P 500 composite index rose 1.6% to 6,705.57 points, while the Nasdaq Composite technology index jumped 2.7% to 22,872.01 points.

European markets, on the other hand, were more cautious. London's FTSE 100 fell 0.1% to 9,534.91 points, while the Paris CAC 40 fell 0.3% to 7,959.67 points. Frankfurt stocks closed up 0.6% to 23,239.18 points despite data showing business sentiment in the country fell more than expected in November.

In the US, tech giants posted strong gains, led by Google parent Alphabet after its latest artificial intelligence (AI) product received positive reviews. Alphabet shares jumped 6.3%, combined with gains in Apple and Tesla, helping the Nasdaq surge.

Analyst Patrick O'Hare of financial website Briefing.com said the strong trading session reinforced the view that AI still has appeal. He said the rally was driven by the market reassessing previous skepticism about the possibility of another Fed rate cut in December.

US stocks had a positive session on November 21 after a signal from New York Fed President John Williams. On November 24, Fed Governor Christopher Waller also expressed support for a rate cut next month, citing the weak labor market.

Currently, the market is focusing on the US Producer Price Index (PPI), scheduled to be announced on November 25 (local time) to look for more signals on the Fed's policy direction.

Source: https://vtv.vn/pho-wall-ruc-sac-xanh-100251125084906078.htm