Market continued to march on a positive direction after news of temporary debt ceiling raise

Stocks climbed with all major indexes ending on a positive note right after news from the Congress was released implying that a raise for the borrowing limit of the government is highly possible to avoid a default.
SHEUNG WAN, Hong Kong - Oct. 12, 2021 - PRLog -- Below are the current movements in the Stock Market;
  • The Dow went up to 34,416.99, increasing by 102.32 points or 0.30%.
  • NASDAQ ended higher at 14.501.91, gaining 68.08 points or 0.47%.
  • The S&P 500 Index landed at 4,363.55 after rising by 17.83 points or 0.41%.
  • Japan's Nikkei 225 increased by 0.54% or 149.34 points and closed to 27,678.14.
  • Hong Kong's Hang Seng stepped up at 24,701.74 points or 3.07% gain.
  • U.S. 2 Year Treasury yield up by 0.011 basis points at 0.3090.
  • U.S. 10 Year Treasury yield increased by 0.042 basis points at 1.5660.
NASDAQ managed to shake off losses as traders bought growth and tech stocks as they dipped in the first half of the session, allowing the index to bounce back before the day closed. Both the Dow and S&P 500 also rose as news regarding Mitch McConnell, Senate Minority Leader, was scheduled to provide a deal to Democratic lawmakers to allow temporary increase of the US government's debt ceiling through the month of November.

The earlier downward trend was caused by lingering worries over the increasing prices of commodities and energy due to inflation, casting a shadow over the optimism that should be received by the economic recovery progress.

The trend for October is volatility, as the stocks show spikes of either gains or losses depending on the latest information present, or updates received by traders. Investors are currently struggling to whether assets will be benefitting in the upcoming policy update and the pace of economic recovery.

Metals such as Gold and Silver under commodities ends up mixed while both WTI and Brent under crude are up by almost 1%.
  • Gold down to $1,758.39 per ounce after losing $4.32 or 0.24%
  • Silver currently at $22.638 per ounce after increasing by 0.06%.
  • Western Texas Intermediate Crude increased and now at $78.26 per barrel.
  • Brent crude at $81.96 per barrel after jumping by 0.88%.
Currencies all over the world are a mixed gaining and losing as market goes beyond volatile.
  • Euro up by 0.00101 closing 1.15641 vs USD.
  • Yen increased by 0.165 at 111.570 against USD.
  • British Pound jumped by 0.0040 at 1.3623 versus USD.
  • Canadian Dollars decreased by 0.00435 at 1.25475 vs USD.
For more latest news in US Stock Market or want to know more about investment opportunities you may visit us at Invest Consulting Group Limited through our website or please do contact us via email.

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