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25th June 2021 Morning Report

Friday 25th June 2021

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U.S. equity markets rallied to record highs yesterday on the back of a bipartisan $953 billion infrastructure deal. The Dow Jones Industrial Average climbed 322 points, or 0.95%, while the S&P 500 and the Nasdaq Composite advanced 0.58% and 0.69%, respectively. Both the S&P 500 and the Nasdaq Composite are trading in record territory. Approximately $559Billion will be for new bridges, broadband, and other traditional infrastructure.

 Weekly jobless claims fell less than expected, remaining at pandemic -elevated levels. The U.S. 10-year yield remained unchanged at 1.49%.

Other overseas markets were strong. Britain’s FTSE 100 rose 0.51% after the Bank of England kept policy on hold and said the current period of strong growth and inflation would be temporary. Germany’s DAX 30 and France’s CAC 40 advanced 0.86% and 1.22%, respectively. Japan’s Nikkei 225 was flat, China’s Shanghai Composite was marginally up 0.01% and Hong Kong’s Hang Seng index rose climbed 0.23%.  

West Texas Intermediate crude oil edged up 22 cents to $73.30 a barrel and gold slipped $6.70 to $1,775.60 an ounce. 

Morning Report 25 June 2021

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