22nd June 2021 Morning Report

U.S. stocks rallied yesterday with the Dow Jones Industrial Average up by more than 500 points, as shares across the board moved higher. 

The Dow rose 1.8%, the S&P 500 1.4% and the Nasdaq Composite 0.8%. 

It was a stark reversal from last week, which was characterised by profit taking on the back of the Fed’s hawkish signals on monetary policy triggered the worst weekly performance for the Dow and the S&P 500 in months.

Overall, there is a tug of war in the market as some want easy money while others want tight money. The market is juggling fears of an overheating economy with optimism about a strong economic rebound, and this is what is causing the swings from week to week now as the market assesses new data in the light fear and optimism.

Morning Report 22 June 2021

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