13th August 2021 Morning Report

Friday 13th August 2021

The Dow Jones Industrial Average closed 0.04% higher, while the S&P 500 index and the Nasdaq Composite index finished 0.29% and 0.35% higher, respectively. Both the Dow and S&P 500 closed in record territory for a third straight day. Despite the producer price index for July increasing at a 7.8% annual pace, the fastest since recordkeeping began in November 2010, U.S. stock markets rallied to record highs. Jobless claims for last week fell to 375,000, matching estimates. Continuing claims, continue to fall and are at a pandemic-era low of 2.866m.

Infrastructure and drugmakers and some technology stocks like EBAY, Bumble and the big data provider Palantir Technologies showed closed higher.

Other overseas markets ended mixed with Britain’s FTSE 100 declining 0.37% while France’s CAC 40 and Germany’s DAX 30 climbed 0.36% and 0.7%, respectively. Asian markets finished lower with Japan’s Nikkei 225 slipping 0.2%, China’s Shanghai Composite down 0.22% and Hong Kong’s Hang Seng index falling 0.53%.

West Texas Intermediate crude oil slipped 16 cents to $69.09 a barrel and gold slumped $1.40 to $1,749 an ounce.

Morning Report 13 August 2021

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