7th July 2021 Morning Report

U.S. equity markets closed mixed with the Nasdaq hitting record highs, finishing 0.17% higher, while both the Dow Jones Industrial Average and the S&P 500 slid off all-time highs, finishing down 0.59% and 0.2%, respectively on the back of a slowdown in the services sector. The services sector, which accounts for more than two-thirds of economic activity, slowed last month due to supply-chain issues and disruptions caused by COVID-19.

Other leading offshore markets were broadly lower, with the German DAX closed 0.96 lower, France’s CAC lost 0.91% and Britain’s FTSE 100 declined 0.89%. In Asia, Hong Kong’s Hang Seng index slipped 0.25%, China’s Shanghai Composite fell 0.12% and Japan’s Nikkei 225 ticked up 0.16%. 

West Texas Intermediate crude oil prices were sharply lower after spiking as much as $1.82 to $76.98, but then closed at $73.37 a barrel after production talks between OPEC and its allies broke down. The rising oil prices are threatening the recovery.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

November 19th Morning Report
November 18th Morning Report
November 15th Morning Report
November 14th Morning Report
November 13th Morning Report
November 12th Morning Report
November 11th Morning Report
November 8th Morning Report
November 7th Morning Report
November 4th Morning Report