The US markets closed higher yesterday with minor gains. The Dow Jones was up 0.1 percent, the S&P 500 gained 4 percent, the Nasdaq rallied close to around 0.5 percent. The Nasdaq closed higher for the fourth successive session.

The US second quarter GDP was revised lower. The last estimate was for 2.4 percent annualised growth, and now they are saying the second quarter GDP grew less than that at 2.1 percent, pointing to softer economic growth.

Also, the ADP jobs data showed the job addition,in August was 177,000. This is lower than economists expectations and sharply lower than the July number of 371,000. This jobs data is also seen as a precursor to the monthly data, which will be reported by the Labor Department on Friday. That will give us a clearer picture, it's the more track number.

The dollar index eased and is now currently just above 103-103.1. The crude prices inched up a bit and are now closer to $86.

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31 Aug 2023