23rd August 2021 Morning Report

U.S. share markets rallied Friday but were unable to recover the total losses for the week with investors still wary over the Federal Reserve’s timeline to taper asset purchases. The Dow Jones Industrial Average closed 0.64%, higher while the S&P 500 index and the Nasdaq Composite index rose 0.81% and 1.19%, respectively. All three of benchmarks lost between 0.5% and 1% for the week.  

Other key overseas markets closed mixed. In Europe, Germany’s DAX 30 ended up 0.27%, France’s CAC 40 added 0.31% and Britain’s FTSE 100 rose 0.41%. Hong Kong’s Hang Seng index tumbled 1.84%, reversing into a bear market, while China’s Shanghai Composite index and Japan’s Nikkei 225 fell 1.1% and 0.98%, respectively. 

West Texas Intermediate crude oil fell $1.37 to $62.32 a barrel and gold edged up 80 cents to $1,781 an ounce. 

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