Market continues to thread current direction; the Dow hitting a new record level

Stocks extended trend from yesterday, with the new print on inflation hitting the mark along with the $1 trillion infrastructure bill passing through the Senate, resulting to a renewed optimism with regards to the economic recovery.
 
CENTRAL, Hong Kong - Aug. 31, 2021 - PRLog -- Both the Dow and S&P 500 extended gains from a day prior, with shares of material and industrial companies rising especially the ones closely related to the economic recovery, and continued to move higher. The Labor Department's new data on consumer price index hit the mark at 0.5% monthly rate for July, providing traders assurance that the inflation is well within their expectations while the recovery is still underway.

Meanwhile, futures of WTI crude oil fell by more than 1% right after the news of CNBC indicating that the White House requested the OPEC and allied parties to increase production as the demand for energy continues to rise during economic recovery.

Earnings reports are still coming in as scheduled, with Coinbase easily topping estimates which resulted to the stocks to increase. The company reported that the growth for user base and trading volumes surged even after the crypto fall back recently.

Listed down below are the main movement in the Stock Market;

Stocks:

- The Dow went up to hit a fresh record high of 35,484.97, adding 220.30 points or 0.62%.
- NASDAQ ended lower at 14,765.14 shredding 22.95 points or 0.16%.
- The S&P 500 Index landed at 4,447.70 after gaining 10.95 points or 0.25%.

Bonds:

- U.S. 2 Year Treasury yield up by 0.0020 basis points at 0.2230.
- U.S. 5 Year Treasury yield went down by 0.0020 basis points or 0.37% at 0.8070.
- U.S. 10 Year Treasury yield increased by 0.0180 basis points or 1.35% and ended 1.3520.

Commodities and Global Currency both ended mixed as market closed this Wednesday:

- Gold down to $1,751.80 per ounce after gaining $0.250 or 0.02%
- Silver currently at $23.4288 per ounce after decreasing by 0.49%.
- Western Texas Intermediate Crude decreased by 0.19% and now at $69.12 per barrel.
- Brent crude at $71.38 per barrel after losing by 0.08%.
- U.S. Dollar Index up by 0.01% at 92.93.
- Euro down by 0.03% closing 1.17360 vs USD.
- Yen increased jumped by 0.04% at 110.440 against USD.

For an updated news related to finances and US Stock Market  you may visit us at Advisory Access Limited through our website https://advisoryaccessltd.com/ or kindly contact us via email.

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