Friday, November 15, 2024

Wall Street today: US stocks slip ahead of presidential election

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US stocks slipped on Monday, ahead of the presidential election.

At the opening bell, the Dow Jones Industrial Average fell 53.32 points, or 0.13 per cent, to 41,998.87. The S&P 500 fell 0.67 points to 5,728.13, while the Nasdaq Composite fell 42.32 points, or 0.23 per cent, to 18,197.59.

In the US presidential race for the White House, Democratic candidate Kamala Harris and Republican opponent Donald Trump remain virtually tied in opinion polls ahead of the Election Day on Tuesday.

According to a latest poll, Kamala Harris is leading in Iowa.

US Federal Reserve interest rate cut also expected later in the week.

US dollar

The US dollar declined on Monday as investors trod carefully ahead of a US presidential election.

The dollar fell against a host of European and Asian currencies, losing 0.6 per cent against the euro to $1.090 and 1 per cent against the Japanese yen to 151.62.

Crude oil

Oil prices rose on Monday after OPEC said it would delay a planned December output hike by one month.

Brent futures rose 2.8 per cent to $75.19. US West Texas Intermediate (WTI) crude added 3 per cent to $71.64.

Bullion

Gold prices were little changed on Monday, with spot gold at $2,740.69 an ounce at 1237 GMT. US gold futures were flat at $2,749.80.

Spot silver rose 1.1 per cent to $32.79 an ounce after touching a more than two-week low at $32.26. 





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