Tuesday 27th July 2021
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U.S. stock markets closed at record highs Monday, as investors awaited further earnings reports and the latest policy decision from the Federal Reserve. Many of the key tech stocks will be reporting this week.
The Dow Jones Industrial Average closed 88 points or 0.25% higher, while the S&P 500 and the Nasdaq Composite advanced 0.24% and 0.03%, respectively.
Chinese stocks that trade in the U.S. were sharply lower as Chinese regulators continued to tighten controls over them via licencing restrictions and other controls.
Crypto-linked companies surged as bitcoin topped $39,000 a coin following speculation, that Amazon was gearing up to accept the digital token. Bitcoin has rallied 31% since closing below $30,000 on July 19.
Overseas markets were on balance weaker.
Germany’s DAX 30 declined 0.32%, Britain’s FTSE 100 slipped 0.03% and France's CAC 30 was 0.15% higher. In Asia, Hong Kong’s Hang Seng index plunged 4.13% and China’s Shanghai Composite tumbled 2.34%, following Chinese regulators' continued clamp down. Meanwhile Japan’s Nikkei 225 closed 1.04% higher.
In commodities, West Texas Intermediate crude oil slid 16 cents to $71.57 a barrel and gold lost $2.70 to $1,798.70 an ounce.
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