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28th September 2021 Morning Report

Tuesday 28th September 2021

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US stock markets closed mixed on Monday. The Dow Jones Industrial Average ended 0.29% up, while the S&P 500 index slipped 0.21% and the Nasdaq Composite index slid 0.71%. 

It will be a busy week on Capital Hill, as lawmakers will be voting both on President Biden’s $3.5 trillion spending plan and on raising the debt ceiling. The US 10 - year bond note rose to 1.49%, following a strong increase in durable goods orders of 1.8%. as opposed to the 0.7% that the market was expecting. This coupled to continued serious concerns about supply chain disruption due to COVID-19 in key production zones in Asia, raised concerns of inflationary pressures ahead. 

Other key overseas markets were mixed. European markets were choppy. Germany’s DAX 30 ended 0.21% up after the centre-left Social Democrats narrowly beat outgoing Chancellor Angel Merkel’s conservatives. France’s CAC 30 closed 0.22% higher, while Britain’s FTSE 100 slid 0.08%.  In Asia, China’s Shanghai Composite index and Japan’s Nikkei 225 declined 0.84% and 0.03% respectively, while Hong Kong’s Hang Seng index was marginally up 0.07%. 

West Texas Intermediate crude oil climbed $1.37 to $75.35 a barrel. WTI has not closed above $75 since July. 

Morning Report 28 September 2021

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