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Markets extend their rally over Pfizer’s full FDA approval - Tuesday Review, August 24

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Miguel A. Rodriguez
Miguel A. Rodriguez
25 August 2021
German economic data showed the GDP rose more than expected in Q2

The US

Wall Street ended higher, as the FDA’s full approval of a COVID-19 vaccine and the absence of negative catalysts kept risk appetite alive ahead of the Jackson Hole Symposium. USA30 rose 0.09%, and USA500 gained 0.15%. TECH100 added 0.52%.

Crude oil went up 1.1% at $66.39 a barrel.

Gold rose 0.2% to $1,803.15 per ounce.

 

Asia and Australia

Stocks were up, boosted by the FDA’s approval of the COVID-19 vaccine, which is expected to increase US vaccination rates and assuage concerns over the virus’s impact on global economic recovery.

Japan225 rose 1.12%.

HongKong45 was up 0.28%.

Down under, Australia200 traded 0.28% higher.

 

Europe

Markets closed in the green, helped by stronger than expected German growth and the full US approval of the Pfizer-BioNTech COVID-19 vaccine.

Germany30 traded 0.2% higher. France40 and UK100 each added 0.1%.

Brent oil rose 1.2% to $69.19 per barrel.

EUR/USD lost 0.1% trading at 1.1737.

 

Sources: investing.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.