US closes mostly higher following strong data reports

Wednesday, 01. September 2021 22:00

United States major equity markets closed mostly with gains on Wednesday as investors felt broadly optimistic that the economy and subsequently market shares will continue to grow. ISM report showed that US manufacturing activity expanded in August topping analyst expectations. However, IHS Markit revealed that despite increasing demand the growth rate has slowed down due to supply and labor force shortages.

Meanwhile, Apple shares jumped on the company's news that some Americans will soon be able to store their ID and driver's license on the Apple Wallet app on iPhones and Apple Watches. Caterpillar machinery producer dipped on the stock market following the announcement that Cat power generators will soon be available to operate on 100% hydrogen, rather than on a gas blend.

The Dow lost 0.13% as Caterpillar fell by 1.38%, while the S&P 500 was flat with 0.03% in the green. The Nasdaq 100 gained 0.19% led by Pinduoduo adding 6.81%. The euro rose by 0.27% against the dollar exchanging hands for $1.18401 at 3:56 pm ET.

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Breaking the News / LH