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The S&P 500 hit a new intraday record high yesterday, breaching 5k points for the first time before paring gains to close just short of that mark. Yesterday’s gains brought the index’s year-to-date return to nearly 5%, buoyed by a rally in several big players, including Nvidia and Meta, the Financial Times reports. “Strong gains for the largest companies have more than offset the concerns of investors about how quickly the Federal Reserve plans to reduce US interest rates this year,” the Financial Times says. The index’s valuation also hit a fresh high, with its forward price-to-earnings ratio this week rising 20.4x, putting it “far above the index’s historic average of 15.7,” Reuters reports, citing LSEG Datastream.
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ADX |
9,362 |
+0.1% (YTD: -2.3%) |
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DFM |
4,159 |
-0.1% (YTD: +2.5%) |
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Nasdaq Dubai UAE20 |
3,713 |
-0.2% (YTD: -3.4%) |
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USD : AED CBUAE |
Buy 3.67 |
Sell 3.67 |
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EIBOR |
5.0% o/n |
5.1% 1 yr |
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TASI |
12,202 |
+0.3% (YTD: +2.0%) |
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EGX30 |
28,411 |
+1.8% (YTD: +14.1%) |
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S&P 500 |
4,995 |
0% (YTD: +4.8%) |
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FTSE 100 |
7,595 |
-0.4% (YTD: -1.8%) |
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Euro Stoxx 50 |
4,710 |
+0.7% (YTD: +4.2%) |
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Brent crude |
USD 81.61 |
0.0% |
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Natural gas (Nymex) |
USD 1.87 |
-2.4% |
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Gold |
USD 2,049.20 |
+0.1% |
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BTC |
USD 45,496.46 |
+1.9% (YTD: 3.0%) |
THE CLOSING BELL-
The ADX rose 0.1% yesterday on turnover of AED 1.1 bn. The index is down 2.3% YTD.
In the green: Emirates Stallions Group (+10.2%), Julphar Gulf Pharmaceutical Industries (+7.8%) and RAK Co. for White Cement and Construction Materials (+x4.4%).
In the red: Aram Group (-4.8%), Sudatel Telecommunications Group (-3.7%) and Dana Gas (-3.5%).
Over on the DFM, the index closed down 0.1% on turnover of AED 386.6 mn. Meanwhile, Nasdaq Dubai fell 0.2%.
