US equity markets experienced a robust start to the trading week on Monday, fueled by renewed optimism regarding potential interest rate reductions. The Dow Jones Industrial Average closed at 34,413.78 points, marking a 1.3% increase compared to the previous day’s close.
The broader S&P 500 reached approximately 4,930.35 points, registering a gain of 1.5%, while the technology-focused Nasdaq 100 climbed to around 17,555.50 points, showing a 1.9% rise.
The positive market sentiment appears to be driven by Friday’s weaker-than-expected jobs report. This data has spurred speculation that the Federal Reserve may be inclined to lower interest rates in an effort to stimulate corporate investment.
Contributing to this expectation is the impending vacancy on the Federal Reserve Board, which could provide an opportunity for the current administration to influence the direction of monetary policy and potentially put pressure on Federal Reserve Chair Jerome Powell to consider more aggressive rate cuts.
The Euro weakened slightly against the US Dollar, trading at $1.0830, or €0.9082 per dollar.
Gold benefited from the prevailing market dynamics, reaching $2,022.83 per ounce (approximately €67.49 per gram), a 0.4% increase.
In contrast, crude oil prices declined noticeably. Brent crude fetched $73.67 per barrel, a decrease of 114 cents, or 1.6%, from the previous day’s closing price.
