SHEUNG WAN, Hong Kong
- July 13, 2021
-- The choppy market was mainly due to the FOMC's meeting minutes being released, which indicated that changes on the current tapering will be slip into 2 parts as the economy continues to recover from pandemic levels.
Both NASDAQ and S&P squeezed out gains to set new record levels towards the end of the session, while the Dow also increased. An isolated case would be Didi Global which continued its downward trend.
Previously, fell by almost 20% on Tuesday after China's regulators called for all ride-hailing services in their country to be removed. Oil also continued to drop since the failed attempt of OPEC to come into an agreement to get more supply.
For investors who were waiting for the minutes, they highly focused on the upcoming changes on the current monetary policy. The current policy being very accommodating due to the near-zero interest rates and the asset purchase program are things that will make big waves once changed.
A summary of today's market session is posted below;
Stocks & Yields:
- The Dow Jones Industrial Average went up to 34,681.79 with an increase of 104.42 points or 0.30%.
- NASDAQ Composite Index slightly changed with an increase of 1.42 points or 0.01% and ended 14,665.06.
- The S&P 500 Index landed at 4,358.14 after gaining 14.60 points or 0.34%.
- Japan's Nikkei 225 dropped by 0.88% or 248.85 points and closed to 28,118.03.
- Hong Kong's Han Sen stepped down at 27,153.14 points or 2.89% loss.
- U.S. 2 Year Treasury yield decreased by 0.020 basis points or 9.20% and closed at 0.194.
- U.S. 5 Year Treasury yield went down by 0.042 basis points or 5.32% at 0.740.
- U.S. 10 Year Treasury yield lost 0.023 basis points or 1.78% and ended 1.295.
As for the Crypto Market it remains volatile with mostly all ALT (Alternative)
coins is just following Bitcoin's trend. A brief summary is listed below;
- Bitcoin (BTC) - $34,217.74
- Etherium (ETH) - $2,322.42
- Ripple (XPR) - $0.6648
- Bitcoin Cash (BCH) - $511.42
- LiteCoin (LTC) - $138.86
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