On 20th October the US stock market started with a positive note. Many major indices like Dow Jones Nasdaq S&P 500 saw a rally in share market. According to media reports it was due to corporate earnings and release of inflation data in coming days. At the opening the Dow Jones Industrial Average rose 189.46 points (0.41%) to 46381.17 S&P 500 jumped 38.71 points (0.58%) to 6702.72 and the Nasdaq Composite gained 180.31 points (0.80%) to 22860.28. This shows a strong continuation of Friday’s rally when the Dow S&P 500 and Nasdaq all rose by 0.5% each. Gold Oil Prices Impact On US Stock Market Gold prices continued their upward trend and went up by 0.3% at $42562.84 per ounce. December futures increased 1.6% to $4280.40 per ounce. Silver also rose modestly while platinum and palladium prices declined. In the oil market prices reduced after concerns over a global supply and the impact of ongoing US-China trade tensions on economic growth. Brent crude futures fell 0.7% to $60.88 per barrel and WTI futures dropped 0.4% to $57.14 per barrel. How US China Updates Impacting Market? These market movements occurred after the World Trade Organization chief urged the US and China to ease trade tensions. Overall US equities showed resilience amid mixed economic signals. However there is optimism focused on strong corporate earnings and anticipation of inflation data to guide future policy directions.
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