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15th September 2021 Morning Report

Wednesday 15th September 2021

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U.S. stocks were under pressure on Tuesday as consumer prices continued to increase in August according to the latest report. Prices were up 0.3% month over month. The market is taking more seriously the possibility that the Federal Reserve could begin tapering its asset-purchase program later this year or early next year. The Dow Jones Industrial Average fell 0.83%, while the S&P 500 index and the Nasdaq Composite index slipped 0.57% and 0.45%, respectively. The modest losses come after the Dow opened with a 121-point gain a day after snapping its five-day losing streak. After the report, the yield on the 10-year note declined to 1.28%.

Apple Inc. unveiled its new iPhone 13 which has a state-of-the-art memory chip and updated camera despite this new product its shares fell 0.96%.  

Other key overseas markets were mixed with France’s CAC 40 sliding 0.36%, Britain’s FTSE 100 falling 0.49% and Germany’s DAX 30 ticking higher by 0.14%. Japan’s Nikkei ended up 0.73% while Hong Kong’s Hang Seng index and China’s Shanghai Composite fell 1.21% and 1.42%, respectively, after developer China Evergrande reiterated concerns, it could default on its debt. 

West Texas Intermediate crude ticked up 1 cent to a six-week high of $70.46 a barrel as Hurricane Nicholas made landfall in Texas. gold climbed $12.70 to $1,804.70 an ounce. 

Morning Report 15 September 2021

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