Wall Street ended at a new high last week. A similar upbeat event took place in the Asia-Pacific stock markets during the trading session today, Monday, August 9.
We think this US stock market-related report is a must-read for our readers, especially those monitoring the current market events. We believe this news will keep them abreast of the developments in the United States and other major stock markets.
We also think this report is the information they need to carry out their trading activities for this week properly. The Dow Jones Industrial Average gained 0.4 percent to 35,208.51 points, while Wall Street’s benchmark S&P 500 index increased by 0.2 percent to 4,436.52 points last Friday, August 6.
Additionally, this Wall Street index ended up 0.9 percent for the week, according to the report posted online by The Winston-Salem Journal, a news outlet based in North Carolina in the United States. As for the Nasdaq, it plummeted 0.4 percent to 14,835.76 points.
Meanwhile, the stock markets in the Asia-Pacific region followed Wall Street higher during today’s trading session. Sydney, Shanghai, South Korea and Hong Kong advanced, while the Japanese stock market was closed for a holiday.
The S&P-ASX 200 in Sydney gained 0.2 percent to 7,557.20 points, while the Shanghai Composite Index gained 0.5 percent to 3,475.78 points.
Meanwhile, the Kospi in Seoul was up less than 0.1 percent at 3,273.47 points, and Hong Kong’s Hang Seng raked in 0.8 percent to 26,406.36 points. As for the stock markets of Jakarta and New Zealand, they also gained, but Bangkok’s declined.
Wall Street’s recent high is attributed to a government report demonstrating the US job market’s improvement. Additionally, higher corporate profits in the United States and the international spread of coronavirus or COVID-19 vaccinations have left investors feeling encouraged.
The United States Department of Labor reported an addition of 943,000 workers last July, which is well above predictions, and salaries rose. Meanwhile, in the Asia-Pacific stock markets, the highs reported took place following China and Australia’s latest COVID-19 measures imposed.
The two countries tightened anti-virus controls that threaten to weigh on economic recovery. We feel happy with the latest events on Wall Street.
We believe that economic recovery in the United States and the Asia-Pacific region will be within reach, despite the lingering COVID-19 and its delta variant’s risk. As long as these countries continue to impose stringent health and safety protocols, we believe that Wall Street and the other countries’ stock markets can recuperate not too long from today.