Stocks still up; momentum unchanged with traders looking forward to key data later this week

Stocks extended gains as they end higher for 3 days now after traders shares optimism brought by the showing of strength of corporate profits, along with the improving economic activity.
By: Synergy Capital Asset Management Limited
 
WAN CHAI, Hong Kong - Sept. 27, 2021 - PRLog -- Though the growth rates of both factors have shown considerable slow down after passing the initial surge from the reopening.

Best Buy reported Q2 earnings results that overwhelmed estimates and even increased full year guidance for sales to show that consumer spending for electronics is bound to happen in the latter part of 2021.

Investor sentiment was also carried forward by the movement of legislation, resulting to increased government spending for physical infrastructure and human labor.

Key moves in the global stock market are as follows;

Stocks & Treasuries:
  • The Dow went up to 35,405.50, adding39.24 points or 0.11%.
  • NASDAQ ended higher at 15,041.86, jumping 22.06 points or 0.15%.
  • The S&P 500 Index landed at 4,496.19 after gaining 9.96 points or 0.22%.
  • Japan's Nikkei 225 increased by 0.06% or 17.64 points and closed to 27,742.22.
  • U.S. 5 Year Treasury yield went up by 0.0080 basis points or 0.98% at 0.8270.
  • U.S. 10 Year Treasury yield down by 0.0100 basis points or 0.74% at 1.3340.
Commodities and Global Currencies:
  • Gold down to $1,786.166 per ounce after losing $4.404 or 0.25%
  • Silver currently at $23.723 per ounce after decreasing by 0.51%.
  • Western Texas Intermediate Crude decreased by 0.54% and now at $67.99 per barrel.
  • Brent crude at $72.02 per barrel after losing by 0.323%.
  • U.S. Dollar Index up by 0.07% at 92.89.
  • Euro down by 0.06% closing 1.17620 vs USD.
  • Yen increased dropped by 0.03% at 110.000 against USD.
  • British Pound down by 0.11% at 1.3745 versus USD.
  • Canadian Dollars increased by 0.28% at 1.26232 vs USD.
The House of Representatives casted their votes to push the $3.5 trillion budget plan that would be used to boost the economy and address existing concerns such as child care, health care and climate change. They also casted votes regarding the original $1.2 trillion infrastructure bill that managed to pass the Senate on the first week of the month.

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