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30th September 2021 Morning Report

Thursday 30th September 2021

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U.S. stock markets rebounded Wednesday, as jitters in the treasury market eased. The Dow Jones Industrial Average closed 0.29% higher, while the S&P 500 index and the Nasdaq Composite index were up 0.41% and 0.54%, respectively.  The 10-year bond yield ended at 1.52%. As yields dropped, growth stocks, led by technology counters rebounded. More companies are reporting supply chain problems, as key performance constraints. Micron Technology’s revenue guidance was below market estimates and it ascribes this to both critical PC parts supply issues and raw material shortages. It also said profit margins would be lower to rising inputs inflation. 

Other key overseas markets were mainly higher. France’s CAC 40 ended 0.96% up, while Germany’s DAX 30 and Britain’s FTSE 100 rose 0.77% and 0.55% respectively. Hong Kong’s Hang Seng index was up 0.67%, while China’s Shanghai Composite and Japan’s Nikkei 225 dropped 1.83% and 2.12%, respectively.

West Texas Intermediate crude oil declined 33 cents to $74.96 a barrel and gold was marginally higher at $1,738.70 an ounce. 

Morning Report 30 September 2021

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