Stocks keeps momentum; new records refreshed by NASDAQ and S&P 500
Market was able to eke out gains and move forward to have all three major indexes on a 2-day win streak.
A brief list of the stock's movement can be summarized as below:
Investors eagerly look out for the Jackson Hole Symposium of the Federal Reserve, which will be starting on Thursday, as it will focus on discussions with the central bank's officials about the current economic conditions and to gain more insights from the Fed as to when the tapering process will be announced and eventually take effect.
Fresh economic print from the US service sector showed a miss on Wall Street consensus, with the index tracking activity dropping to the lowest for the last eight months, reflecting the delta variant's effect on demand.
Chinese tech company shares increased, managing to shake off the continuous losses over the past several weeks due to China's regulatory crackdown for their big tech firms. The moves came in due to the Ark Investment Management scooping up the shares of JD.com after the company exceeded their quarterly estimates. Other peers like Baidu and Alibaba also rose, bringing Hang Seng index up by 2.5%.
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