25th August 2021 Morning Report

Wednesday 25th August 2021

U.S. stock markets closed marginally Tuesday, as the Nasdaq Composite index topped 15,000 for the first time. The Nasdaq ended 0.42% higher while the Dow Jones Industrial Average and the S&P 500 index both increased 0.19%.

Biden’s $3.5 trillion human infrastructure package faced resistance after nine moderate Democrats opposed Speaker Nancy Pelosi’s plan to vote on a measure that would advance the bill before taking up the $1 trillion bipartisan infrastructure bill.

Mega tech stocks such as Apple Inc., Microsoft Inc., and Amazon Inc., drove the Nasdaq to a record high Monday. Ford Motor Co. doubled its F-150 Lightning pickup electric truck production target due to its strong early demand. Best Buys delivered impressive results as consumers make upgrades to their at-home offices.

Oil majors Exxon Mobil Corp. and Chevron Corp. closed higher as oil prices saw strong increases for a second day.

Other key overseas markets were in the main higher, with, Germany’s DAX 30 and Britain’s FTSE 100 up 0.33% and o,24% respectively, while France’s CAC 40 declined by 0.28%. Asian stock exchanges also closed higher with Hong Kong's Hang Seng index and China's Shanghai Composite up 2.46%, and 1.08% respectively. Japan's Nikkei 225 ended 0.87% higher.

West Texas Intermediate crude oil jumping $1.82 to $67.46 a barrel.

Morning Report 25 August 2021

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