New York Stock Market: Dow Closes Negative 151.91 | RYT9

The Dow Jones Industrial Average closed down for a fifth straight day on Tuesday (June 14) as investors remain worried that The US economy could go into recession if the Federal Reserve (Fed) accelerates interest rate hikes to curb inflation. Investors will be keeping an eye on the outcome of the Fed’s monetary policy meeting, which will be announced today in US time. or in the early morning of tomorrow in Thai time

The Dow Jones Industrial Average closed at 30,364.83, down 151.91, or -0.50%, the S&P500 closed at 3,735.48, down 14.15, or -0.38%, and the Nasdaq closed at 10,828.35, up 19.12, or +0.18%.

The Fed’s board began its first monetary policy meeting yesterday. and will announce the results of the meeting today in US time Analysts from multiple agencies, including Jan Hatzius, chief analyst at Goldman Sachs, and JPMorgan analyst Michel Feeroli were expected to The Fed will raise interest rates by 0.75% at its meeting. and will continue to raise interest rates by 0.75% at the July meeting

The CME Group’s FedWatch Tool indicates that investors are now 100 percent weighed that the Fed will raise interest rates by 0.75% at this round of meetings. This will be the most intense interest rate hike since 1994 to stave off a spike in inflation.

Nine of the 11 stocks included in the S&P500 closed in negative territory, led by the Utilities Index, down 2.58 percent, with PG&E Corporation down 4.23 percent, Duke Energy down 2.4 percent. On Corporation fell 3.14%.

Read also  US senator blocks Jerome Powell's re-election as Fed president

The consumer goods index fell 1.29 percent, with Procter & Gamble (P&G) down 3.12 percent, Coca-Cola down 2.74 percent, and Kimberley-Clark down 2.84 percent.

Shares of the airline and cruise business continued to fall. Delta Air Lines were down 2.58 percent, American Airlines were down 2.78 percent, Carnival Corp was down 3.84 percent and Royal Caribbean Cruises was down 4.38 percent.

The technology and energy index rose 0.62% and 0.07%, respectively, with Apple up 0.67%, Alphabet up 0.3%, Microsoft up 0.92%, Exxon Mobil. Up 0.26% Chevron shares were up 0.11%.

FedEx shares jumped 14.38% after the company announced a dividend increase of more than 50 percent, while Oracle Corp shares rose 10.50 percent after the company raised its quarterly earnings forecast. As demand for cloud products tends to be strong

For the US economic data released last night. The US Department of Labor said The Producer Price Index (PPI), a measure of inflation based on producer spending, rose 0.8 percent in May from month to month. in line with analysts’ forecasts after rising 0.4% in April

Other US economic data scheduled to be released this week include: May retail sales, June housing market index from the National Association of Home Builders (NAHB), weekly unemployment claims, home building starts and May building permits. ., and industrial production in May