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14th September 2021 Morning Report

Tuesday 14th September 2021

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U.S. stock markets closed mixed yesterday with both the Dow Jones Industrial Average and the S&P 500 snapping their five-day losing streaks. The Dow and S&P 500 ended up 0.76% and 0.23% respectively, while the Nasdaq Composite slipped 0.07%.  The markets were restrained by the House Democrats work on a draft proposal that would raise taxes on the wealthy and corporations to pay for their $3.5 trillion budget package. The proposal package includes raising taxes on individuals making over $400,000 annually and married couples filing jointly earnings of $450,000 or more per year. It also includes raising the top corporate tax rate to 26.5% from 21% and increasing the top capital gains rate to 25% from 20%. 

Other key overseas markets were mostly higher. Germany’s DAX increased 0.59%, France’s CAC 40 advanced 0.2% and Britain’s FTSE 100 closed 0.56% higher. Japan’s Nikkei 225 and China’s Shanghai Composite closed marginally higher 0.22% and 0.33%, respectively, while Hong Kong’s Hang Seng index dropped 1.5%. 

West Texas Intermediate crude oil added 73 cents to $70.45 a barrel and was on track for its best close since Aug. 2. Gold, meanwhile, gained $2.40 to $1,792 an ounce.

Morning Report 14 September 2021


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