Strong Economy Fuels Gains
Economy / Finance

Strong Economy Fuels Gains

US equity markets experienced gains on Thursday, with the Dow Jones Industrial Average closing at 45,637 points, representing a 0.2 percent increase from the previous session.

The broader S&P 500 index finished the day up 0.3 percent, around 6,502 points, while the Nasdaq 100 saw a 0.6 percent rise to approximately 23,703 points.

Economic data released on Thursday indicated continued strength in the US economy. The nation’s Gross Domestic Product increased by 3.3 percent in the second quarter. Initial jobless claims also fell during the past week. Corporate earnings, notably Nvidia’s results released Wednesday after market close, continue to reflect sustained interest in artificial intelligence, although the company’s over 50 percent revenue increase fell short of expectations.

In currency markets, the Euro strengthened against the US dollar, trading at 1.1683 US dollars per Euro, equivalent to 0.8559 US dollars per Euro.

The price of gold also benefited from market activity, closing at 3,422 US dollars per troy ounce, a 0.7 percent increase. This equates to approximately 94.17 Euros per gram.

Crude oil prices rose marginally, with Brent crude futures closing at 68.28 US dollars per barrel, up 0.3 percent, or 23 cents, from the previous day’s close.