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The Impact of Macroeconomic Factors on the US Stock Exchange

The Impact of Macroeconomic Factors on the US Stock Exchange

Cemil Süslü
Copyright: © 2022 |Volume: 11 |Issue: 1 |Pages: 22
ISSN: 2160-9659|EISSN: 2160-9667|EISBN13: 9781683182719|DOI: 10.4018/IJSEM.311097
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MLA

Süslü, Cemil. "The Impact of Macroeconomic Factors on the US Stock Exchange." IJSEM vol.11, no.1 2022: pp.1-22. http://doi.org/10.4018/IJSEM.311097

APA

Süslü, C. (2022). The Impact of Macroeconomic Factors on the US Stock Exchange. International Journal of Sustainable Economies Management (IJSEM), 11(1), 1-22. http://doi.org/10.4018/IJSEM.311097

Chicago

Süslü, Cemil. "The Impact of Macroeconomic Factors on the US Stock Exchange," International Journal of Sustainable Economies Management (IJSEM) 11, no.1: 1-22. http://doi.org/10.4018/IJSEM.311097

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Abstract

The aim of the present study was to analyze the impact of crude oil prices, the US treasury 10-year bond yield rate, and gold prices on S&P 500 stock prices using daily data of the period from 04/01/2010 to 19/11/2022. For that purpose, this study employed the ARDL method. According to the results of the ARDL method, there was no statistically significant relationship between S&P 500 stock prices and gold prices, oil prices, and US treasury 10-year bond yield rates in the long term. However, while the impact of US treasury 10-year bond yield rates and gold prices was positive in the long term, the impact of oil prices on US stock prices was negative. In the short term, the impact of oil and gold prices on stock prices was statistically significant. Consequently, study of the short-term coefficients revealed a positive relationship between US stock prices and gold and oil prices. As a result, gold and oil prices had a positive impact on US stock prices in the short term.

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