15th September 2021 Morning Report

Wednesday 15th September 2021

U.S. stocks were under pressure on Tuesday as consumer prices continued to increase in August according to the latest report. Prices were up 0.3% month over month. The market is taking more seriously the possibility that the Federal Reserve could begin tapering its asset-purchase program later this year or early next year. The Dow Jones Industrial Average fell 0.83%, while the S&P 500 index and the Nasdaq Composite index slipped 0.57% and 0.45%, respectively. The modest losses come after the Dow opened with a 121-point gain a day after snapping its five-day losing streak. After the report, the yield on the 10-year note declined to 1.28%.

Apple Inc. unveiled its new iPhone 13 which has a state-of-the-art memory chip and updated camera despite this new product its shares fell 0.96%.

Other key overseas markets were mixed with France’s CAC 40 sliding 0.36%, Britain’s FTSE 100 falling 0.49% and Germany’s DAX 30 ticking higher by 0.14%. Japan’s Nikkei ended up 0.73% while Hong Kong’s Hang Seng index and China’s Shanghai Composite fell 1.21% and 1.42%, respectively, after developer China Evergrande reiterated concerns, it could default on its debt.

West Texas Intermediate crude ticked up 1 cent to a six-week high of $70.46 a barrel as Hurricane Nicholas made landfall in Texas. gold climbed $12.70 to $1,804.70 an ounce.

Morning Report 15 September 2021

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