21st May 2021 Morning Report

Friday 21st May 2021

Wall Street rebounded led by tech stocks, after a 3 -day decline, following jobless claims data indicated the labour market continued to improve. First time unemployed benefits on a weekly basis, was the lowest since the pandemic began in March 2020. However, markets remain concerned about market volatility and apprehensive about what the market will look over the next six months.

Federal Reserve Chair Jerome Powell flagged the risks of cryptocurrencies in an unusual video message on Thursday that also laid out a clearer timetable for the Fed to consider adopting a digital currency of its own. The Chairman of the Federal Reserve highlighted the risks of cryptocurrencies in an unusual video message yesterday. He also provided a clear timetable for the Central Bank to consider adopting its own digital currency.

Cryptocurrencies edged higher from their recent lows after this week’s crash.

Morning Report 21 May 2021

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