31st August 2021 Morning Report

U.S. stock markets closed mixed on Monday with both the S&P 500 and Nasdaq Composite striking all-time highs. The S&P 500 increased 0.43% and the Nasdaq advanced 0.9%, while the Dow Jones Industrial Average dropped 0.16%, ending 225 points below its record peak. 

Mega-cap US tech names such as Microsoft Corp. (+1.29%), Apple Inc. (+3.04%) and Alphabet Inc. (0.41%) were all close to record highs as investors capitalised on the likelihood that interest rates would remain near zero for the foreseeable future. 

Othe key overseas markets were in the main higher. Britain’s FTSE 100 rose 0.32% as Germany’s DAX 30 ticked up 0.28% and France's CAC 30 increased 0.08%. Japan’s Nikkei rose 0.54% while Hong Kong’s Hang Seng index increased 0.52% and China’s Shanghai Composite was marginally up 0.17%. 

West Texas Intermediate crude oil was trading down 33 cents at US $68.41 a barrel, while the gold price was down US $6.60 to close at US $1810.

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