The Dow and S&P 500 closed at all-time highs following senate passing $1 trillion infrastructure bill. The Dow closing higher by 0.46%% and the S&P 500 advanced by 0.1%. The Nasdaq composite slid 0.49%, registering its second negative session in the last three sessions. The dip came as treasury yields advance, weighing on growth-oriented areas of the market. The 10-year treasury yields rise to 1.3625, while awaiting key inflation readings later this week. The US dollar index is up at 93.183, seeing a 4-month high, as investors are seeing a resistance line ahead of CPI report due later today.
Asian markets traded mixed at open today, as concerns over the spread of the covid-19 delta variant and expectations of earlier tapering by the Federal Reserve offset strong corporate earnings. China’s CSI 300 is down by 0.55%. Japan’s NIKKEI edges higher by 0.65%, set for best week since May-end on strong earnings. In Hong Kong, the Hang Seng index was down by 0.12%. Australia’s ASX is up by 0.29% on the back of strong earnings results, despite the nation’s most populous state recording its sharpest daily increase in coronavirus cases.
European stocks hit record highs on Tuesday, extending gains for a seventh straight session as investors took comfort from strong earnings reports and economic recovery prospects despite concerns about the Delta variant of COVID-19. At the close in London, the Investing.com United Kingdom 100 rose 0.38% to hit a new 1-month high. The pan-European STOXX 600 index gained 0.4% to notch an all-time high of 472.95 points. The travel and leisure sector were the top gainers as the world’s largest online betting group Flutter Entertainment jumped 8.6% after it forecast its U.S. business would turn a profit by 2023.
Crude oil for delivery in September rose 3.29% to hit $68.67 a barrel, while the October Brent oil contract rose 2.87% or 1.98 to trade at $71.02 a barrel. Industry data showed US crude oil and gasoline inventories fell last week, while the US Energy Information Administration raised its forecast for fuel demand in 2021 and said consumption in May through July was higher than expected, supporting prices. Gold Futures for December delivery was up 0.31% or 5.30 to $1731.80 a troy ounce.