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US indices on all-time highs

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Markets

Nikkei 225

27,789.29

▲ +148.15 / +0.54%

SSE Composite

3,528.15

▲ +5.99 / +0.17%

IBOVESPA

120,277.39

0.00 / 0.00%

Straits Times

3,102.11

▲ +21.34 / +0.69%

BMV IPC

52,425.64

0.00 / 0.00%

Dow Jones

35,432.06

▼ -23.74 / -0.07%

DAX 30

15,872.12

0.00 / 0.00%

BSE SENSEX

56,889.76

▲ +765.04 / +1.36%

FTSE 100

7,148.01

▲ +23.03 / +0.32%

JSE Top 40

60,920.12

▼ -473.03 / -0.77%

Market News

The Nasdaq and the S&P indices start the week extending gains over the records set on Friday.

Last Week’s Highlights

S&P and Nasdaq indices close at record highs

All major US indices ended Friday on significant wins after declarations from Fed Chairman Jerome Powell gave a clearer picture of policy evolution from the Federal Reserve. Weighing in on risks for the economic recovery, Powell did not announce a timeframe for tapering the purchase of assets and was cautious about interest rates, making investors comfortable with the forecast. As Powell spoke, stocks kept going up to mark a spectacular trading session. The S&P rallied 0.88%, and the Nasdaq kept the 15k mark gaining more than 1%, both indices setting records, while the DJIA also gained a further 0.6%.

Afghanistan’s banks collapse after a takeover

It’s been two weeks since the Taliban regained control of Afghanistan, spurring a humanitarian and economic crisis of immense dimensions. Now Afghan banks are on the edge of total collapse, leaving thousands of citizens stranded for cash. The Afghan economy is heavily reliant on international aid and currency (75% of public spending), which have stopped since Kabul fell to Taliban control. Central Bank sources told CNN that, although the Taliban has ordered banks to reopen, the sector cannot keep up with demand as they have no available funds. 

Coming Up This Week

The shipping crisis threatens Retail

Global shipping is going through hard times as staff shortages and port closures place the industry under pressure. The effects of this crisis are still to be seen in retailers, some of which have already announced that demand will hardly be met. As a result, the world supply chain is looking at tougher conditions and more expensive shipping, which increases consumer costs and makes keeping shelves full harder. The retail industry is already bracing for a difficult holiday season, with shortages and shipping up to three times more expensive than one year ago. 

Amazon-backed Rivian files for an IPO

Electric vehicle startup Rivian has filed paperwork for an IPO with the SEC this week. The novel electric truck manufacturer, backed by Amazon and Ford, is looking for an initial public offering of more than $80 Billion. This amount surpasses the market value of big traditional auto manufacturers such as Ford. The company is set to be a competitor for Tesla and has thousands of deliveries due next month. 


More Things to Sip On…

Tesla files to sell electricity in Texas. 

UK staff shortage becomes more severe than ever. 

Tim Cook gets a $750 million bonus from Apple.

The US inflation rate is at a 30-year high.


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Disclaimer
All market information provided was collected in the afternoon of August 27, 2021. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest Limited is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Limited.

MARKET NEWS

More Things to Sip On…

FlexACADEMY

Disclaimer
All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest.