US Federal Reserve Kept Interest Rate Steady; Monthly Bond Buying to Continue

US Markets: Broader indices in the United States traded on a mixed note - particularly, the S&P 500 index traded 3.54 points or 0.08 per cent higher at 4,405.00, Dow Jones Industrial Average Index declined by 26.90 points or 0.08 per cent lower at 35,031.62, and the technology benchmark index Nasdaq Composite traded higher at 14,735.50, up by 74.90 points or 0.51 per cent against the previous day close (at the time of writing – 11:55 AM ET).

US Market News: The major indices of Wall Street traded on a mixed note after US Federal Reserve kept its interest rate unchanged and will continue with its monthly bond buying program of $120 billion. Among the gaining stocks, Boeing (BA) shares went up by about 5.45% after the Company reported a surprise profit of around 40 cents per share. Among the declining stocks, Starbucks (SBUX) shares went down by around 2.56%, even after the Company had projected a higher cost for labour and supplies in the coming months. Apple (AAPL) shares dropped by about 1.36% after the Company warned regarding the negative impact of the global chip shortage. Shopify (SHOP) shares fell by about 0.84%, even after the Company had posted quarterly earnings more than the consensus estimates.

UK Market News: The London markets traded in a green zone due to the strong performance of the travel & leisure stocks. According to Nationwide, the average UK house price had demonstrated a marginal monthly drop of around 0.50% during July 2021 after witnessing a record high in June 2021.

FTSE 100 listed Barclays shares went up by about 2.33% after the Company reported a first half profit significantly higher than the consensus estimates. Moreover, the Company had announced a share buyback and resumed dividends.

St James’s Place shares surged by around 5.60% after the Company reported a substantial jump in the first half underlying cash driven by a sharp increase in fund under management.

Aston Martin Lagonda Global Holdings had narrowed down the net loss during the first half benefitted by significant growth in the top-line revenue. Furthermore, the shares grew by around 2.36%.

Fresnillo shares climbed by around 6.95% after the Company stated that it remained on track to meet full-year targets. Moreover, the Company had achieved strong growth of around 18% in the silver production during the second quarter.

European Indices Performance (at the time of writing):

FTSE 100 Index One Year Performance (as on 28 July 2021)

1 Year FTSE 100 Chart (Source: Refinitiv)

Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Barclays Plc (BARC); Rolls-Royce Holdings Plc (RR.).

Top 3 Sectors traded in green*: Real Estate (+1.16%), Industrials (+0.72%) and Healthcare (+0.50%).

Top 2 Sectors traded in red*: Energy (-0.29%) and Consumer Non-Cyclicals (-0.14%).

London Stock Exchange: Stocks Performance (at the time of writing)

Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $73.91/barrel and $72.39/barrel, respectively.

Gold Price*: Gold price was quoting at US$ 1,796.75 per ounce, down by 0.17% against the prior day closing.

Currency Rates*: GBP to USD: 1.3883; EUR to GBP: 0.8506.

Bond Yields*: US 10-Year Treasury yield: 1.263%; UK 10-Year Government Bond yield: 0.5750%.

*At the time of writing