Sharechat Logo

9th August 2021 Morning Report

Monday 9th August 2021

Text too small?

U.S. securities markets closed at record highs after the July jobs report totally surpassed expectations. The Dow Jones Industrial Average rose 0.41%, while the S&P 500 closed 0.17% higher and the Nasdaq Composite slipped 0.4%. The U.S. economy added 943,000 jobs in July as the unemployment rate fell to 5.4%. For June, job additions were revised higher to 938,000 while the unemployment rate remained at 5.9%. The strong job numbers unleashed selling in the U.S. Treasury market, with the yield on the 10-year note closing near 1.29%. 

Big banks were in focus after the Federal Reserve announced new capital requirements based on how well each performed during the stress tests conducted earlier this year. Goldman Sachs Group Inc. and Morgan Stanley had the highest capital ratios at 13.4% and 13.2%, respectively. Didi shares lost a total of 33% since its IPO so far. It is under pressure to appease Chinese regulators to give up control of its valuable data. The pant meat company, Beyond Meat Inc. reported a bigger-than-expected loss and said restaurants were taking a conservative approach to orders due to uncertainty over COVID-19.

Other overseas markets were somewhat volatile with European bourses up with France's CAC 40 rising 0.53%, Germany’s DAX 30 gaining 0.11% and Britain's FTSE 100 up 0.04%. Japan’s Nikkei 225 closed 0.33% higher, while Hong Kong’s Hang Seng index and China’s Shanghai Composite declined 0.1% and 0.24%, respectively. 

West Texas Intermediate crude oil slide 81 cents to $68.28 a barrel and gold tumbled $45.10 to $1,760 an ounce. 

Morning Report 09 August 2021


  General Finance Advertising    

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.

Related News:

March 28th Morning Report
March 27th Morning Report
March 26th Morning Report
March 25th Morning Report
March 21st Morning Report
March 19th Morning Report
March 18th Morning Report
March 14th Morning Report
March 12th Morning Report
March 11th Morning Report