Tuesday, 3 August 2021: US equity markets relinquished earlier gains to settle with modest losses
Aug 2, 2021 ·
7m 12s
US equity markets relinquished earlier gains to settle with modest losses, with most of the fall coming in the final hour of the session - Dow eased -97-points or -0.28%...
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US equity markets relinquished earlier gains to settle with modest losses, with most of the fall coming in the final hour of the session - Dow eased -97-points or -0.28% to 34,838.16 after touching a fresh record intraday high at 35,192.11. The broader S&P500 slipped -0.18%, with Materials (down -1.17%) leading seven of the eleven primary sectors lower. More defensive sectors outperformed overnight, with Utilities (up +0.75%) the leading primary sector performer. Tesla Inc rose +3.27%. The Nasdaq inched +0.06% higher. The small capitalisation Russell 2000 fell -0.48%. Persistent concerns about the spread of the delta variant of the coronavirus weighed on investor sentiment on the first trading day for equity markets in August, while investors also eyed progress on an infrastructure bill, merger and acquisition (M&A) activity and concerns about the pace and timing of the Federal Reserve’s plans to roll back easy-monetary policies.
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| Author | Morgans Financial Limited |
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