The US stock market has recorded a robust lead. Wall Street analysts witnessed all the three major American stock market indices ending at record highs last week, with the selling extended today from Friday.
We think this fresh US stock market report is significant for our readers to know. After all, Wall Street is certainly influential and developments there greatly affect the world’s stock markets.
According to the report posted online by Singapore-based financial and business news outlet The Business Times, the Dow Jones Industrial Average (DJIA) has concluded above 35,000 points for the first time. At the time of writing, this stock market index recorded 35,061.55 points.
Furthermore, the DJIA garnered 235 points or 0.68 percent. Meanwhile, the Nasdaq Composite surged 1.04 percent, while the S&P 500 advanced 1.02 percent, per the July 23 report of Fox Business, a news source that delivers the latest business, financial, and investment reports.
On the other hand, most markets in Asia plummeted on Monday morning, July 26. These broad losses across the region happened as traders carried on fretting over the rapid spread of the coronavirus or COVID-19 Delta variant.
This variation of the COVID-19 illness caused by a novel coronavirus has sent infections spiking lately. Additionally, it has forced some governments in Asia to re-impose containment measures, including economically hurting lockdowns.
This week, investors have a packed schedule of potentially market-moving events. Among these happenings involve the US economic growth data and the earnings from some of the world’s largest companies like Amazon and Apple.
Moreover, investors will monitor the Federal Reserve System’s latest policy conference. Later in the day, they will also keep tabs on the meeting between Chinese Foreign Minister Wang Yi and US Deputy Secretary of State Wendy Sherman.
This event is the highest-level visit by the administration of US President Joseph Biden. The discussions come at a time of the heightened strained relationship between the US and China.
The two economic superpowers have been at loggerheads over various issues such as human rights, technology, and Hong Kong. We are pleased to learn about the US stock market rallying to record highs recently and showing this improvement earlier today.
We learned that the US stock markets climbed for a fourth consecutive session following a rocky beginning on the week of July 19 to 23. We also think it is great to find out that the major US stock market averages ended the previous week with four straight days of gains, which happened after the heavy selling on Monday led to the DJIA’s steepest, one-day slide since October 2020.
We have observed that the US stock market is different from the stock markets in Asia. The latter are cautious about the COVID-19 Delta variant. On the other hand, Wall Street has projected that “the show must go on.”
We think that the coronavirus Delta variant is truly a concern among Asian traders. However, besides the US stock market, we hope that the ongoing vaccination roll-outs can help various countries’ stock markets recover and record strong leads as well.