30th July 2021 Morning Report

Friday 30th July 2021

U.S. share markets indexes rallied Thursday, with the Dow Jones Industrial Average rose 0.44%, while the S&P 500 and the Nasdaq Composite advanced 0.42% and 0.11%, respectively. US GDP growth was disappointing at a seasonally adjusted annualized rate of 6.5% in the second quarter 6. The figure fell short of the 8.5% that the majority of analysts expected. Supply-chain disruptions and labour shortages due to Covid -19 impacted the growth.

Robinhood the lasted large IPO fell more than 8% on their debut. It closed with a market value of $32 billion! Facebook reported earnings and sales that exceeded Wall Street estimates but warned revenue growth would slow. The CEO Mark Zuckerberg the company would transition in coming years from a social media company to metaverse company.

Other overseas markets rallied to higher levels from the previous closes. In Europe, Britain’s FTSE 100 advanced 0.88%, France’s CAC 30 climbed 0.45% and Germany’s DAX 30 was up 0.37%.

Hong Kong’s Hang Seng index surged 3.3%, while China’s Shanghai Composite index and Japan’s Nikkei 225 rallied 1.49% and 0.73%, respectively.

West Texas Intermediate crude oil rose $1.23 to $73.62 a barrel and gold jumped $31.50 to $1,831.20 an ounce.

Morning Report 30 July 2021

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