24th June 2021 Morning Report

US stocks traded in a tight range yesterday on the back of lower treasury rates. The S&P500 was supported by increases in Financial and retail stocks , while the NASDAQ Composite reached a new record on the back of a strong Tesla rally.  

 Dallas Fed President Robert Kaplan said that the Federal Reserve’s tapering of its asset purchases would commence earlier than most people expected, and he thinks there will be rate hike in 2022.  

Janet Yellen said yesterday the treasury department may run out of measures as early as August to avoid breaching the debt limit unless Congress acts to avert a potential catastrophic default. Unless the debt limit is raised or suspended the Treasury will not be able to borrow more funds to cover government expenses and the government could default on maturing debt repayments. 

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

April 19th Morning Report
April 18th Morning Report
April 17th Morning Report
April 16th Morning Report
April 15th Morning Report
April 12th Morning Report
April 11th Morning Report
April 10th Morning Report
April 9th Morning Report
April 8th Morning Report