Thursday 26th August 2021 |
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Yesterday the leading U.S. stock indexes hit new record highs. The Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite index closed higher, 0.11%, 0.22% and 0.15% respectively. The market awaits the outcomes from the Fed’s Jackson Hole conference that takes place Thursday and Friday when the central bank may indicate its timeline to begin tapering its asset purchase program and increasing rates.
At the legislature level, the U.S. House of Representatives approved a $3.5 trillion budget resolution for a "human infrastructure" package as well as the $1 trillion bipartisan physical infrastructure plan. Some commentators say that if the human infrastructure bill is passed by the senate this will put upward pressure on US inflation. The US 10 - year bond yield rose to 1.34%.
Other key overseas markets were choppy during the trading day and closed mixed. Britain’s FTSE 100 and France’s CAC 40 were rose 0.34% and 0.18%, respectively, while Germany’s DAX 30 slipped 0.28%. China’s Shanghai Composite ended up 0.74%, while Japan’s Nikkei 225 slipped 0.03% and Hong Kong’s Hang Seng index fell 0.13%.
West Texas Intermediate crude oil climbed 82 cents to $68.36 a barrel and gold fell $17.40 to $1,788.20 an ounce.
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