Advanced Share Registry : Market Update - 23 September 2021


Wall St closed in the black, the Dow snapped a four day losing streak as the Fed left interest rates unchanged. The Fed said tapering will happen "soon" if the recovery continues to roll. The major indexes saw strong gains, pricing in the likely official announcement in November, for the taper to start in December, with the view that the Fed is in no rush to raise interest rates soon.

Major indexes around the globe almost rallied with European markets rebounding into the black, as Evergrande concerns abated for now. U.S. Federal Reserve Chair Powell flagged that tapering will happen "soon". The ASX rose for a 2nd day while the price of Australian carbon credit units hit a record high. Macquarie rates Westpac Group (ASX:WBC) as a hold after their ESG meeting.

European markets saw a rebound closing in the black as Evergande concerns abate. Asian markets closed mixed as sentiment stabilized after much anxiety earlier in the week.

Yesterday, the Australian sharemarket closed 0.3 per cent higher at 7,297 for the second straight day. Energy stocks charged the local bourse as the index shrugged off global jitters.

Today IHS Markit business conditions purchasing managers indexes for September are expected to see a slight uplift on the reopening play that is released today. The Australian Bureau of Statistics is set to release payroll jobs for week ending 28 August and June quarter household wealth data.



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Advanced Share Registry Limited published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 06:41:01 UTC.