Dow Jones rose ahead of Jackson Hole Symposium

Note: This section contains information in English only.
Source: Dukascopy Bank SA

US blue chips were slightly higher despite escalated worries that the Fed will not ease its monetary policy further amid positive economic data. On Wednesday, the Fed released its Beige Book, stating that the US economy faced gradual expansion over July and August. Meanwhile, traders were cautious ahead of Jackson Hole Symposium due to start on Friday. The Dow Jones Industrial Average Index added 0.03% to close at 13,107.48. Five out of nine sectors included in the index climbed. Shares of telecommunication and consumer services companies showed the strongest performance. AT&T and Verizon Communications soared 0.49% and 0.98% while Wal-Mart Stores gained 0.50%. At the same time, consumer goods and oil and gas companies dragged the index lower. Kraft Foods and Procter & Gamble slid 0.45% and 0.18% while Exxon Mobil and Chevron dropped by 0.23% and 0.49% amid falling crude oil prices.

 

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