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22nd September 2021 Morning Report

Wednesday 22nd September 2021

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World stock markets stabilized Tuesday and oil prices rose after Monday’s heavy selling of risky assets, as investors assessed the level of contagion from China’s Evergrande’s financial woes and awaited the Federal Reserve’s meetings. U.S. stocks closed nearly flat yesterday. The Dow Jones Industrial Average declined 0.15%, to 33,919.84, the S&P 500 lost 0.08%, to 4,354.19, while the Nasdaq Composite rose 0.22%, to end at 14,746.40. 

The Cboe Volatility Index declined 1.35 points to 24.36 after hitting a four-month high the previous day. Benchmark 10-year U.S. Treasury notes last fell 5/32 in price to yield 1.3243%, from 1.309% late on Monday.

European markets held onto their gains better than their U.S. counterparts. The pan-European STOXX 600 index rose 1%, with Germany’s DAX rising 1.4%. The FTSE100 was up1.12%. In Asia stock markets were mixed with the Hang Seng Index and the Shanghai Composite up 0.51% and 0.19% respectively, while the Nikkei 225 dropped 2.17%.  

U.S. crude settled up 0.4% at $70.56 per barrel while the spot gold added 0.5% at $1,773.09 an ounce.

Morning Report 22 September 2021

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