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U.S. stocks fell pre-election, Golden Dragon Index rose, oil prices up with OPEC+ support.

U.S. stocks fell pre-election, Golden Dragon Index rose, oil prices up with OPEC+ support.

TraderKnowsTraderKnows
2024-11-05
Summary:The three major U.S. stock indices closed lower on Monday, while the Golden Dragon Index rose against the market trend. OPEC+ delayed production increase, boosting oil prices higher.

On Monday, the three major U.S. stock indexes closed lower as investors remained cautious ahead of the U.S. presidential election and the Federal Reserve meeting. At the close, the Dow Jones Industrial Average fell 257.59 points to 41,794.60 points, a decrease of 0.61%; the Nasdaq Composite dropped 59.93 points to 18,179.98 points, a decline of 0.33%; and the S&P 500 Index was down 16.11 points to 5,712.69 points, a decrease of 0.28%. The Nasdaq Golden Dragon China Index rose against the trend by 1.1%, with Alibaba up 0.84% and XPeng Motors up nearly 5%.

In European stocks, both the German DAX30 Index and the French CAC40 Index fell, down 0.53% and 0.50% respectively. The UK's FTSE 100 Index slightly increased by 0.11%. Performances in the Asia-Pacific market were mixed, with South Korea's KOSPI Index rising 1.83%, while Indonesia's Jakarta Composite Index fell 0.34%.

In the commodities market, boosted by the OPEC+ decision to delay production increases, WTI crude oil futures prices rose 2.85% to $71.47 per barrel. Gold futures slightly declined by 0.14% to $2,745.40 per ounce, silver futures dropped 0.29% to $32.5850 per ounce, and copper futures rose 1.35% to $4.4303 per pound.

In the metal market, LME copper, aluminum, and tin closed higher, while zinc and lead fell. On the macroeconomic data front, U.S. factory orders in September fell 0.5% month-on-month, in line with market expectations, indicating a cooling in manufacturing.

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TraderKnows
Written byTraderKnows
Created date:2024-11-05 03:42
Last Updated:2024-11-05 05:19
Independent Analysis: Manually researched and fact-checked by the TraderKnows Compliance Team, based on public regulatory records.
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