Sharechat Logo

30th June 2021 Morning Report

Wednesday 30th June 2021

Text too small?

U.S. consumer confidence jumped in June to its highest level in almost -1/2 years, on the back of growing labour market optimism, amid a reopening economy that offset concerns about higher inflation. The Conference Board’s consumer confidence index reached a reading of 127.3 this month, the highest level since February 2020. Economists polled had forecast the index at 119.0. Consumers’ inflation expectations over the next 12 months increased to 6.7% marginally higher than the previous month. Economists are forecasting a double-digit rise in consumer spending this quarter and expect the economy to grow at an 10% annualized rate. Gross domestic product expanded at a 6.4% pace in the first quarter.

On the back of this positive economic news stocks on Wall Street rose, with the S&P 500 hitting a record high for the fourth straight session. The dollar rose against a basket of currencies and U.S. Treasury prices were lower. 

European shares ended higher on Tuesday after data showed economic sentiment improved sharply in June. The pan-European STOXX 600 rose 0.3% higher. Asian markets were lower in the fear that the Delta virus variant could impede global economic recovery. The Chinese CS1300 index closed 1.2% lower on the fear that the Delta virus variant could impede global economic recovery. The Shanghai Composite Index was down 0.9%. The Nikkei fell 0.81% to 28,812.61, while the broader Topix lost 0.82%.

Morning Report 30 June 2021


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

24th September 2021 Morning Report
23rd September 2021 Morning Report
22nd September 2021 Morning Report
21st September 2021 Morning Report
20th September 2021 Morning Report
17th September 2021 Morning Report
16th September 2021 Morning Report
15th September 2021 Morning Report
14th September 2021 Morning Report
13th September 2021 Morning Report