US End of Session Notes – 13.09.2021

US End of Session Notes

In the US, indices recorded their fastest weekly decline since February on the last trading day of the week. Investors are worried that there may be a correction movement in the indices in the autumn period. The S&P 500 index, which was close to record levels, broke more than 50 records this year. Analysts say that after a strong second-quarter balance sheet period, the economic recovery has reached its peak and the pace of recovery may slow down after this point. At the end of the session, the Dow Jones index decreased by 0.78 percent to 34607, S&P 500 index decreased by 0.77 percent to 4458, and the Nasdaq index decreased by 0.87 percent to 15115.

Dollar Index

The dollar index in Forex markets is watching with buyers today. The 10-year Treasury bond yield was at 1.35 percent at the close of the session. Index futures, on the other hand, are trending with buyers. 4451 level is followed as support and 4483 levels as resistance in S&P 500 index.


The producer price index (PPI) in the USA increased more than expected in August, the annual increase reached 8.3 percent, the highest level since 2010.

Last Situation on Coronavirus

On September 12, 36,953 cases of coronavirus were detected across the United States. The average number of coronavirus cases detected in the last 7 days was approximately 145,724. The average case detection in the last 7 days decreased by 7 percent compared to 14 days ago. Approximately 209 million people in the country have received at least one dose of the coronavirus vaccine, and approximately 178 million people have received two doses.

Michelle Bowman, one of the board members of the US Federal Reserve (Fed), stated that if the data on the US economy is positive, it would be appropriate to start reducing asset purchases this year. Cleveland Fed President Loretta Mester said inflation could remain high this year and risks are on the upside. Philadelphia Fed President Patrick Harker said he would support the move to reduce asset purchases before long. On the other hand, Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan have sold all of their stock holdings in their individual portfolios by the end of September, following the latest financial statements showing that the central bank made active transactions in some investments in a one-year period in which the central bank took strong steps to protect the US economy against the coronavirus. announced that they will release it.

In his assessment to CNN on Sunday, West Virginia Senator Manchin said the goal of holding a vote in the House of Representatives at the end of September on President Joe Biden’s $3.5 trillion infrastructure package was unrealistic. Senator Manchin stated that it was not possible to vote on the 27th of the plan because there were too many differences of opinion. On the other hand, the highest corporate tax was set at 26.5 percent, according to Biden’s plan of the Democrats, who tried to set a realistic rate to pass the package through both houses of the USA. Biden wanted a 28 percent corporate tax for the plan.

All 11 sectors with S&P 500 companies lost value. 

The real estate and public services sectors were the sectors that lost the most value of the day.

This week, Definitive Healthcare, DICE Therapeutics, Dutch Bros, EzFill Holdings, ForgeRock, On Holding, PROCEPT BioRobotics, Sportradar Group, Thoughtworks Holding, and Tyra Biosciences are scheduled to go public.

Oracle Corp., Asthead, and Firstrand will report balance sheets this week.

With Labor Day last week, entertainment industry activities recovered. AMC Entertainment has announced that Walt Disney’s “Shang-Chi and the Legend of the Ten Rings” attracted great attention. The company reported that for the first time since the epidemic, pre-epidemic figures were reached. AMC announced that approximately 2 million people in the USA and approximately 800,000 people in Europe and the Middle East visited AMC halls over the weekend.

After the developments in the chip crisis, Intel announced last week that it will set up a factory in Europe worth $95 billion.

SEE ALSO: What is FOMC? Why is it Important for Markets?

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Caroline Tetra

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