The US stock markets presented a mixed picture on Thursday. By the close of trading in New York, the Dow stood at 51,232 points, representing a gain of 0.1 percent compared to the previous day. However, the broader S&P 500 was down 0.5 percent, registering around 7,765 points a few minutes prior, while the technology-focused Nasdaq 100 declined by 1.4 percent, reaching approximately 30,726 points at the same time.
The slump in the markets was influenced partly by concerns surrounding semiconductor manufacturers like Nvidia, Micron, and Intel, whose shares lost considerable value. This downturn followed a report in the “Financial Times” suggesting that OpenAI, the developer of ChatGPT, might have lower annual revenue than previously anticipated. High oil prices also weighed down investor sentiment.
On the geopolitical front, US President Donald Trump dismissed reports claiming he was planning to attack Iran before the US midterm elections. Stating on his personal platform, Trump asserted that productive discussions were underway with Iran and that oil is currently flowing through the Strait of Hormuz in record volumes.
In currency markets, the European common currency strengthened slightly on Thursday evening. At the close, one Euro cost $1.1214 USD, meaning one US Dollar exchanged for 0.8917 Euros.
Commodity prices moved in different directions. The price of gold managed to climb, settling at $4,133 per fine ounce in the evening, a gain of 0.6 percent, which translates to €118.49 per gram. Meanwhile, the price of oil surged significantly. Around 10 PM Central European Time on Thursday, a barrel of Brent crude from the North Sea cost $103.90 USD, representing a sharp increase of 3.6 percent over the previous trading day’s close.
