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1st September 2021 Morning Report

Wednesday 1st September 2021

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U.S. markets closed mix on Tuesday with the S&P 500 achieving its seventh straight monthly gain. The Dow Jones Industrial Average and S&P 500 fell 0.14%, and 0.13% respectively while the Nasdaq Composite index increased 0.06%.  On a monthly basis the Nasdaq was higher by 4.04%, while both the S&P 500 and Dow gained 3.04% and 1.33% respectively. 

Zoom Communications Inc. reported quarterly revenue above $1billion but warned of slowing demand for its video-conferencing service as the pandemic-driven boom wanes. Its results were ahead of estimates. Robinhood Markets Inc. came under pressure for a second day, after U.S. Securities and Exchange Commission Chair said it was looking at ending payment for order flow, which is the main revenue source for the company. 

Other key markets were mixed with the following European exchanges down - Germany’s DAX 30 fell 0.33% and France’s CAC 40 slipped 0.11% after the eurozone reported that inflation reached a 10-year high. Britain’s FTSE 100 declined 0.4%. In Asia the following key markets closed higher: China’s Shanghai Composite up 0.45%, Japan’s Nikkei 225 rising 1.08% and Hong Kong’s Hang Seng index advancing 1.33%. 

The Case-Shiller home price index rose 19.1% in June, its biggest rise on record

West Texas Intermediate crude oil declined 55 cents to $68.66 per barrel, while gold advanced $2.40 to $1,815 an ounce.

Morning Report 1 September 2021

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