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Tech took over Wall Street - Tuesday Review, June 22, 23.06.2021

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Miguel A. Rodriguez
Miguel A. Rodriguez
23 June 2021
Investor inflation jitters calmed down by Powell’s latest comments

The US

Wall Street closed higher as Federal Reserve Chairman Jerome Powell continued to downplay fears over the quick pace of inflation. USA30 gained 0.20%, and USA500 rose 0.51%. TECH100 closed 0.79% higher at a new record high of 14,223.27.

Crude oil fell 0.35%, trading at $72.62 a barrel.

Gold was down 0.33% to $1,777.05 per troy ounce.

The Dollar Index was up 0.09% at 91.963.

 

Asia and Australia

Stocks were mainly up following the rebound in US counterparts. The possibility that policy tightening could be more gradual than expected put away investor fears regarding an inflation spike.

Japan225 soared 3.03%.

Down under, Australia200 jumped 1.41%.

HongKong45 inched up 0.01%.

 

Europe

Germany30 traded 0.21% higher as gains in the Chemicals, Telecoms and Tech sectors led shares higher. UK100 rose 0.3%.

Brent oil fell 0.35% to trade at $74.64 per barrel.

EUR/USD was down 0.05% to 1.1908.

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.