U.S. Markets Trying to Move to Green; ADP Jobs Data Out

U.S. equities lost momentum and stayed flat in the early hours of trade with mixed emotions on corporate results. ADP Jobs data report, which came out today, has also shown that lesser than expected jobs were added by American companies last month.

Treasury yields moved down while gold prices moved up., gold surged, and the dollar was weaker against major peers. Shares of General Motors fell more than 7% with lower sales due to chip shortage. 

Stoxx Europe is up 0.53%

Dow Jones is down by 0.74%
NASDAQ is up by 0.073%

GM Results Fall as Chip Shortage Continues; Stock Tanks

General Motors, one of the ‘Big Three’ Automakers in the USA, has posted results that missed analysts’ expectations of profit numbers.

The company blamed semiconductor shortages along with recalls of its Chevrolet Bolt EV due to fires for the fall in profit. However, the auto-giant has raised its expectations of profit for the year 2021, as margins have increased with high prices due to an increase in supply and a decrease in demand.

Shares of General Motors are down more than 7.5% today. Nifty Auto was also down nearly 1% in the day. 

Brazil Sugar Production To Fall Due To Bad Winter

The largest sugar producer and exporter of the world-Brazil will face a huge fall in sugar production in the coming months due to bad winter and as frost events hit crops in the country’s center-south region in June and July. Broker StoneX cut its projection for Brazil’s sugar production to 34.6 million tonnes from the previous estimate of 35.7 million tonnes.

Saudi Arabia Hikes Sept Crude Selling Prices For Asia

State Oil Producer Aramco said on Wednesday Saudi Arabia has hiked the September official selling prices (OSPs) for the Arab light crude to $3 a barrel above the Oman/Dubai average for Asia. Fo the United States this is at a premium of $1.35 a barrel over the Argus Sour Crude Index (ASCI).

U.S. July Private Payrolls Growth Falls Below Estimates

U.S National Employment Report shows that Private payrolls increased by 330,000 jobs against the expectations of an increase of 695,000 jobs. Though half of America has been vaccinated, the surge in new cases is pulling back the people from going outside. A record 9.2 million job openings are reported in the U.S, but employers say that they are failing to find willing workers that fit the job.

Apple Joins Hands With Chinese Suppliers For Latest iPhones

Japan’s Nikkei newspaper has reported that U.S tech giant Apple has joined hands with more Chinese suppliers to produce its latest iPhones. Due to the pandemic situation global supply chain is already affected and the tech war between U.S and China has poured more fuel into it. The reports say that Apple will work with multiple firms for the supply of different parts of the iPhone to keep the supply steady.

Indonesia struggling to fight Delta Variant; Pushes Back Herd Immunity Goals

Indonesia has said that it is taking a step back on its goal of reaching herd immunity for Covid-19, as the rise in cases puts the healthcare system under heavy stress. According to studies, the vaccines available now are not much effective at stopping transmission of the delta variant. Indonesia is not alone in this fight.

A report from the Infectious Diseases Society of America has estimated that the U.S. should vaccinate 90% of its population to reach herd immunity. Herd immunity is a general level of protection that arises when many people have immunity against the virus, making it hard for it to circulate between humans.

Extreme Weather in China Threatening Inflation Again

Cyclones in China are the latest threat to global inflation. With bad weather forcing many of the world’s busiest ports to shut down, containers are getting stuck crushing supply chains around the world.

Supply chains have been struggling to get back into full strength with a series of events starting with the Chinese New Year, then Covid-19, Container shortages and now typhoons crushing it down. The Yantian port in China said it had stopped drop-off services of containers on Tuesday night due to a typhoon alert just weeks after Shanghai port evacuated ships due to another Typhoon.

Demand for goods is remaining strong with the low interest rates, but supply is not keeping up. If goods get stuck in China, a lot of supply chains will struggle around the world which could force up prices and cause inflation. 


At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]