[Breaking] New York Stock Market Continues Strong Despite Riots... IPOs Also Showing Positive Trends

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market rose again despite the nationwide spread of unrest.

On the 2nd (local time), the Dow Jones Industrial Average closed at 25,742.65, up 267.63 points (1.05%) from the previous session, the S&P 500 index rose 25.09 points (0.82%) to 3,080.82, and the Nasdaq increased by 56.33 points (0.59%) to 9,608.37.

Although curfews were imposed due to protests against the death of a Black man by suffocation and looting, raising concerns about potential economic and social turmoil, the market gains were not limited.

The bullish trend in the stock market is also confirmed in initial public offerings (IPO). On the 3rd, Warner Music's demand forecast will close, and the company expects the offering price to be set at the upper end of the planned band. The offering price for ZoomInfo, which will be finalized on the 4th, is also expected to be strong. The Wall Street Journal reported that the U.S. IPO market is heating up on that day.

International oil prices also showed an upward trend on expectations of an extension of production cut agreements. West Texas Intermediate (WTI) crude oil for July delivery closed at $36.81 per barrel, up 3.9% ($1.37). North Sea Brent crude is also rising by over 3% per barrel.

Gold for August delivery closed at $1,734 per ounce, down 0.9% ($16.30) from the previous day.

This content was produced with the assistance of AI translation services.