24th August 2021 Morning Report

The Dow Jones Industrial Average closed 0.78% higher, while the S&P 500 and the Nasdaq Composite advanced 1.5% and 1%, respectively. Both the S&P 500 and the Nasdaq closed at all-time highs, but investors looked ahead to  the Federal Reserve’s future framework to begin tapering its asset purchases. The Fed’s Jackson Hole Symposium this Thursday and Friday could provide insights as to when the Fed will end the pandemic emergency measures and begin raising interest rates.

 Other overseas markets rallied across the board, with Germany’s DAX 30 advancing 0.38% and 0.33%, respectively. Japan’s Nikkei 225 rose 1.78%, China’s Shanghai Composite added 1.45% and Hong Kong’s Hang Seng index increased 1.05%. 

WTI crude oil snapped 7-day losing streak rising to the $65 per barrel level and gold is at USD 1804.20 per ounce. 

Bitcoin rose to the $50,000 level, a three-month high.

Morning Report 24 August 2021

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