21st July 2021 Morning Report

Wednesday 21st July 2021

U.S. stock markets recovered the lion's share of their previous day's losses as stocks battled back after the Dow experienced its steepest one-day decline of 725 points in almost nine months, as a resurgence of COVID-19 infections and ongoing inflation concerns unnerved investors.

The Dow Jones Industrial Average rose 550 points, or 1.62%, while the S&P 500 and the Nasdaq Composite advanced 1.52% and 1.57%, respectively. The strong gains came a day after the Dow lost 725 points, booking its worst day since October, as a resurgence of COVID-19 infections and ongoing inflation concerns rattled investors.

Other overseas markets were mixed. European exchanges were higher across the board with France’s CAC 40 advancing 0.81%, Britain’s FTSE 100 rising 0.54% and Germany’s DAX 30 up 0.55%. In Asia, Japan’s Nikkei 225 slid 0.96%, Hong Kong’s Hang Seng Index fell 0.84% and China’s Shanghai Composite lost 0.07%.

In commodities, West Texas Intermediate crude oil gained $1 to $67.42 a barrel and gold advanced $2.20 to $1,810.90 an ounce.

Morning Report 21 July 2021

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