21st July 2021 Morning Report

U.S. stock markets recovered the lion's share of their previous day's losses as stocks battled back after the Dow experienced its steepest one-day decline of 725 points in almost nine months, as a resurgence of COVID-19 infections and ongoing inflation concerns unnerved investors.  

The Dow Jones Industrial Average rose 550 points, or 1.62%, while the S&P 500 and the Nasdaq Composite advanced 1.52% and 1.57%, respectively. The strong gains came a day after the Dow lost 725 points, booking its worst day since October, as a resurgence of COVID-19 infections and ongoing inflation concerns rattled investors. 

Other overseas markets were mixed. European exchanges were higher across the board with France’s CAC 40 advancing 0.81%, Britain’s FTSE 100 rising 0.54% and Germany’s DAX 30 up 0.55%. In Asia, Japan’s Nikkei 225 slid 0.96%, Hong Kong’s Hang Seng Index fell 0.84% and China’s Shanghai Composite lost 0.07%.    

In commodities, West Texas Intermediate crude oil gained $1 to $67.42 a barrel and gold advanced $2.20 to $1,810.90 an ounce.

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