8th December 2021 Morning Report

Wednesday 8th December 2021

U.S. stock markets are moving up for the so-called Santa Claus rally when stocks rise toward the end of December. These may continue into next year as a good momentum in the economy, indicated by UBS GWM Head of America's Equities David Lefkowitz. "Consumers are in great shape, wages are rising, jobs are plentiful, cash is plentiful on consumer balance sheets, businesses are spending, and they are also making record profits," he said.

This morning the Dow Jones Industrial Average was up 1.25%, while the S&P 500 and Nasdaq Composite rose 1.87% and 2.78%, respectively.

Other key markets ended mixed. European stocks closed higher as follows: the FTSE100 (+1.49%), the Dax 30 (+2.82%), CAC 40 (+2.91%) and the STOXX (2.46%). In Asia, the Hang Seng and Shanghai indices were up. The key Asian indices ended yesterday as follows: Nikkei 225(1.89%), HSI (2.72%) and the Shanghai Composite (0.16%)

The yield on the US 10 - year note was at 1.48%, while the 2 - year note was at 0.691%. Oil also rose to the $75.41 per barrel, up 3.19%. The gold price was at US$1784.07 per ounce, up 0.23%.

Morning Report 08 December 2021

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