Wednesday 4th August 2021 |
Text too small? |
US stock markets had a broad closing rally despite a choppy session early on, as investors processed quarterly earnings during one of the season's busiest weeks for reports. The Dow Jones Industrial Average and the S&P 500 closed 0.8%, and 0.82% higher, respectively. The S & P closing at a new record led by healthcare, energy, and industrials. The Nasdaq Composite closed 0.55% higher.
European stocks closed at record highs on Tuesday, driven by strong earnings updates from heavyweights such as BP and Societe Generale, although gains were capped by concerns over rising Delta variant cases across the globe and China’s continued regulatory moves. The region - wide STOXX 600 index closed 0.2% higher. Travel and leisure stocks tumbled 2.6% with the spread of the Delta variant. Technology stocks were rattled by Chinese officials targetting videogame makers. The world’s biggest container shipping company, A.P. Moller-Maersk, fell 2.0% after some analysts saw its outlook as sub par as chaotic conditions in the global supply chain pushed freight rates higher.
In Asia, equities fell across the board. The Nikkei 225 Index closed 0.50% lower, while the Hang Seng Index slipped 0.16% and the Shanghai Composite Index closed 0.47% lower.
Oil dropped 0.91% to $70.61 per barrel, while gold traded down 0.47% to $1,813 an ounce.
No comments yet
August 9th Morning Report
August 6th Morning Report
July 30th Morning Report
July 19th Morning Report
July 17th Morning Report
July 16th Morning Report
July 15th Morning Report
July 11th Morning Report
July 8th Morning Report
July 4th Morning Report