The DOW rose sharply yesterday after Federal Reserve Chair Jerome Powell signalled continuing support for the U.S. Economy. The index touched a record 32,000 points briefly before closing at about 31962.
Copper led the way to higher commodities prices, with Oil also seeing significant growth yesterday. This asset class may be seen as a possible hedge against inflation, which is a developing concern thanks to the potential for post-pandemic recovery.
Facebook blocks Australian platform news access in response to the country’s media payment law, while Google approves a partnership with News Corp.
President Biden’s US $1.9 trillion pandemic relief plan brought traders’ attention to the energy and financial sectors, while tech stocks and interest rate concerns pushed down the NASDAQ and S&P 500 indices.
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