Stocks mixed; NASDAQ starts the month really well, outperforming and setting new records

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Tech stocks, specifically, went all out allowing NASDAQ to set a fresh high record. Both the Dow and S&P 500 have little movements, while the prices for US crude oil dropped to $68 per barrel after the meeting held by OPEC+ which had their members increase the supply output to 400,000 barrels a day each month for this year just to cope up with the increasing energy demand in the market.

The S&P 500 recorded its 7th month of winning streak in August, logging a 3% increase for August with the strong showing of corporate earnings, delayed tapering of the highly accommodating settings for asset purchase and the positive track of economic recovery managing to offset the coronavirus Delta variant’s surging concerns. However, NASDAQ was still the biggest outperformer with an increase of 4% for the month of August, with investor’s sentiment leaning back to growth and tech stocks as stay at home restrictions are being restated.

To summarized what happen on today’s market, listed below are the ending price of the Major US stocks and bonds:

• The Dow went down to 35,312.96, lowering by 47.77 points or 0.14%.
• NASDAQ ended higher at 15,309.38, jumping 50.15 points or 0.33%.
• The S&P 500 Index landed at 4,524.17 after gaining 1.49 points or 0.03%.
• U.S. 2 Year Treasury yield down by 0.02 basis points at 0.2110.
• U.S. 5 Year Treasury yield went down by 0.0190 basis points at 0.7740.
• U.S. 10 Year Treasury yield down by 0.0310 basis points at 1.2950.

Crypto Currency market remains volatile are Bitcoin price varies trading sideways dragging almost all of the alt coins in the crypto market.

Here’s a list of the top trending coins in the Crypto market;

• Bitcoin (BTC) – High at 49,124.64/usd
Low at 46,538.20/usd
• Etherium (ETH) – High at 3,843.58/usd
Low at 3,383.47/usd
• Binance Coin (BNB) – High at 490.40/usd
Low at 455.20/usd

Want to know more of the latest news in US Stock Market and Crypto Currency kindly visit us at Prime Bright Investment Limited through our website or contact us via email.

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