Market wraps higher despite negative sentiment index for consumers

Market direction unchanged as it continues to climb, eking out narrow gains to set new high records after investors digest most recent earnings results and economic data.
SHEUNG WAN, Hong Kong - Aug. 31, 2021 - PRLog -- Friday marked the fourth session in which both the Dow and S&P 500 moved higher to set fresh records day by day.

The S&P, specifically, had managed to post gains for the week as the optimism continues for the momentum of the economic recovery, which is supported by further positive results from the earnings reports.

The most recent print on the jobless claims have also contributed to the market sentiment, as the print shows a third consecutive weekly drop for new filings, although it is still far from the pre-pandemic levels.

There's also the new print on consumer prices that managed to hit the spot for consensus, however, the producer prices were higher than anticipated. The 7.8% increase year-over-year in the producer price index had been labelled the biggest increase in the last decade.

Closing this week's market on below list:
  • NASDAQ Composite Index gained by 0.04% or 6.64 points and wrapped at 14,822.90.
  • The S&P 500 Index went up by 0.16% or 7.23 points closing at 4,468.06.
  • The Dow Jones Industrial Average moved higher with 0.05% or 16.06-point gain, to end at 35,515.45.
Yields extends the downward trend:
  • U.S. 2 Year Treasury yield decreased by 0.0180 basis points to 02090.
  • U.S. 5 Year Treasury yield dropped by 0.0500 basis points and now at 0.7760.
  • U.S. 10 Year Treasury yield went down by 0.0790 basis points closing 1.2820.
Metal and oil results mixed:
  • Gold moved up by $27.290 or 1.56% and is now at $1,779.90 per ounce.
  • Silver increased by $0.576 or 2.48% to $23.7595 an ounce.
  • Western Texas Intermediate Crude is currently at $68.44 a barrel losing 0.94%.
  • Brent Crude closed at $70.59 per barrel after decreasing by 1.01%.
International currencies end up mixed, but mostly higher:
  • Euro / USD = +0.00630 (0.54%) = 1.17936
  • USD / Yen = -0.839 (0.76%) = 109.570
  • AUD / USD = +0.00329 (0.45%) = 0.73680
  • USD / CAD = -0.00113 (0.09%) = 1.25120
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