3rd September 2021 Morning Report

Friday 3rd September 2021

U.S. stock markets hit record highs Thursday as weekly jobless claims dipped to a pandemic-era low ahead of the August jobs report. The Dow Jones Industrial Average rose 0.37%, while the S&P 500 index and the Nasdaq Composite index were up 0.28% and 0.14%, respectively. Jobless claims for the week ended Aug. 28 fell to 340,000, the lowest since March 2020. The market is now looking to Friday’s nonfarm payroll report, which is expected to show an increase of 720,000 jobs in August.

Apple Inc. rallied to a new record price, while fellow mega -cap technology stocks failed to beat their previous record prices. Tesla CEO Elon Musk announced the redesigned roadster likely wouldn’t be available until 2023, three years later than initially expected.

Other key overseas markets were strong. Britain’s FTSE 100, France’s CAC 40 and Germany’s DAX 30 were all higher by 0.2% or less, while Asian stock markets were higher across the board with China’s Shanghai Composite increasing 0.84%, Japan’s Nikkei 225 advancing 0.33% and Hong Kong’s Hang Seng up 0.24%.

West Texas Intermediate crude oil climbed $1.40 to $69.99 a barrel and gold slipped $4.40 to $1,808.70 an ounce.

Morning Report 3 September 2021

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