21st October 2021 Morning Report

Thursday 21st October 2021

U.S. stock markets ended higher on Wednesday. The Dow closed 0.35% higher, while the S&P 500 and the Nasdaq Composite rose 0.28% and 0.12%, respectively. Large cap stocks that are reporting earnings are comfortably beating analyst earnings estimates. Facebook Inc. will change its name next week, as it endeavours to change its image, after severe criticism from lawmakers and regulators. The social network’s new name is expected to focus on the metaverse, a network of 3D worlds.

Other key overseas markets were mostly higher. Germany’s DAX 30 ended up 0.05%, Britain's FTSE 100 rose 0.08% and France’s CAC 40 added 0.54%. China’ Shanghai Composite slipped 0.17%, Japan’s Nikkei 225 ended 0.14% up and Hong Kong’s Hang Seng index rose 1.35%.

Bitcoin hit a new all-time high, trading above the $65,000 level, one day after the launch of the first Bitcoin exchange-traded fund, Proshares Bitcoin Strategy ETF.

West Texas Intermediate crude oil rose 67 cents to $83.63 a barrel while gold jumped $15.50 to $1,786 an ounce.

The US 10 year note closed at 1.65%.

Morning Report 21 October 2021

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