13th September 2021 Morning Report

U.S. stock markets fell for a fifth day on Friday, as producer prices posted their biggest annual increase on record.  The Dow Jones Industrial Average dropped 0.78%, while the S&P 500 index and the Nasdaq Composite index fell 0.77% and 0.88%, respectively. Both the Dow and the S&P 500 extended their losing streaks to five days. The price index report for August, showed prices surged 8.3% annually, the highest increase since record-keeping began in November 2010. Prices increased 0.7% month on month.  The report caused traders to sell U.S. Treasuries, driving the 10-year note yield to 1.34%. 

Other key overseas markets were in rally mode, with European exchanges all up. Britain’s FTSE 100 increased 0.07% while Germany’s DAX 30 and France’s CAC 40 declined 0.09% and 0.31%, respectively. Hong Kong’s Hang Seng index surged 1.91%, Japan’s Nikkei 225 rose 1.25% and China’s Shanghai Composite edged up 0.27%.

West Texas Intermediate crude oil increased $1.58 to $69.72 a barrel. 

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