Wealth Daily 30 September 2021


WEALTH DAILY 2021-09-30
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The S&P 500 Index and the Dow Jones Industrial Average rose slightly on Wed, but the tech-heavy Nasdaq Composite swooned into negative territory near the end of the session as Treasury yields rebounded. 


The Dow rose 90.73 points, or 0.26%, to 34,390.72, and the S&P 500 added 0.16% to close at 4,359.46. The Nasdaq Composite fell 0.24% to finish at 14,512.44. The 10-year Treasury yield traded below 1.50% Wed morning but bounced back toward 1.54% in afternoon trading. 


Boeing (BA US, +3.2%) led the Dow higher. On Wed, the head of Boeing's China operations told Reuters that a 737 Max test flight for Chinese regulators last month had been a success. 


Enthusiasm for new issues continues. Eyewear retailer Warby Parker (WRBY US) closed 36% above its reference price on its NYSE debut. 


US ADRs of Chinese video game companies, Tencent (TCEHY US, -1.19%), NetEase (NTES US, -3.53%) and Bilibili (BILI US, -3.25%) fell after a SCMP report said that that Beijing hasn't approved any new licensed video games in the last two months, and that its content reviews are getting stricter. 


The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, rose 0.61% to 94.338, reaching a 10 month high. 


The front-month Brent and WTI futures closed down 45 cents at US$78.64/bbl and 46 cents at US$74.83/bbl respectively. US natural gas futures for Nov delivery fell 28.8 cents, or 4.9% on Wed on expectations of mild weather. 


The most actively traded US gold futures (Dec) contracts settled down $14.10, or 0.8%, at US$1,722.90/oz. December silver, which is the most actively traded silver futures, fell 97.5 cents, or 4.3%, to end at US$21.485/oz. 


The UK FTSE gained 1.14%, France's CAC 40 rose 0.83%, while the German DAX advanced 0.77%. London stocks were aided by a falling pound, which has dropped on concerns over an economic slowdown as a result of a fuel shortage.