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5th August 2021 Morning Report

Thursday 5th August 2021

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U.S. stock markets closed mixed on Wednesday. The Dow Jones Industrial Average fell 0.92%, while the S&P 500 lost 0.46% and the Nasdaq Composite index rose 0.13%. The July ADP employment report showed private-sector hiring slowed sharply in July, while COVID-19 infections continue to rise. U.S. firms added only 330,000 new workers in July, down from 680,000 in June. 

Robinhood Markets Inc. soared past its $38 IPO price. General Motors Co. become profitable this past quarter and raised its full-year forecast as it continued to prioritize high-margin vehicles amid the global chip shortage. Lyft Inc. ride-hailing company said it had 17.14 million riders last quarter, down from 21.2 million in the first quarter of 2020, however its revenue increased 125% on the previous year. Activision Blizzard Inc. beat Wall Street estimates. 

In other overseas markets, indices closed mainly higher. European exchanges closed higher across the board. The German DAX 30 was up 0.88%, France’s CAC 40 gaining 0.33% and Britain’s FTSE 100 rising 0.26%. In Asia, Hong Kong’s Hang Seng index and China’s Shanghai Composite advanced 0.88% and 0.85%, respectively, while Japan’s Nikkei 225 lost 0.21%.

West Texas Intermediate crude oil fell $2.415 to $68.19 a barrel. Gold was marginally up and closed at $1,810.50 an ounce. 

Morning Report 05 August 2021

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