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Mixed results with concerns about effects of pandemic versus strong corporate earnings
Market session for Wednesday ended mixed with both S&P 500 and the Dow below the red line, while NASDAQ stayed and wrapped on a positive note.
Added to this is the not-so-impressive report about the private sector's payroll growth for July, which was less than half of the estimates. This payroll data is being used by the Federal Reserve as indicator of the status of the economy, which right now can only be considered not up to par yet. The only thing stopping the market from a meltdown is the optimism brought by wonderful Q2 earnings results of the majority.
Corporate earnings continue to impress as more major companies posted their earnings report that easily exceeds Wall Street estimates. Lyft managed to follow through with their adjusted guidance and hit their mark with the economic activity picking up. Gas and oil companies are also making a killing due to resurging demand.
Stocks and Bonds ended mixed as market closes with uncertainties with the growing numbers of Delta Variant cases:
- The Dow Jones Industrial Average went down to 34,792.67, shedding 323.73 points or 0.92%.
- NASDAQ Composite Index ended higher at 14,780.53, racking up 19.24 points or 0.13%.
- The S&P 500 Index landed at 4,402.66 after losing 20.49 points or 0.46%.
- U.S. 5 Year Treasury yield went up by 0.0040 basis points or 0.59% at 0.6740.
- U.S. 10 Year Treasury yield decreased by 0.0050 basis points or 0.42% and ended 1.1800.
Gold together with crude went down a few bits while silver is up by less than half of a percent:
- Gold down to $1,811.660 per ounce after losing $0.200 or 0.01%
- Silver currently at $25.39146 per ounce after increasing by 0.02%.
- Western Texas Intermediate Crude decreased by 0.23% and now at $67.99 per barrel.
- Brent crude at $70.38 per barrel after losing by 2.80%.
Global Currency exchange ended mixed this Wednesday:
- U.S. Dollar Index up by 0.22% at 92.28.
- Euro up by 0.02% closing 1.18384 vs USD.
- Yen increased jumped by 0.05% at 109.518 against USD.
- British Pound up by 0.01% at 1.3887 versus USD.
- Canadian Dollars increased by 0.01% at 1.25450 vs USD.
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