Financial Report/Bulletin 07/27/2021

Economists say although global economic growth prospects are holding strong for this year and the coming year, new variants of the virus pose the biggest risk to that outlook.

{RVO}

The global economy is forecast to expand 6 percent this year, which would be its fastest in nearly half a century.

Financial markets remain on edge ahead of the U.S. Federal Reserve's meeting this week.

{O/C}

Owing to high raw material prices, China's industrial profit growth slowed down in June.

{RVO}

After a 36.4 percent increase in May, industrial firms' profits rose 20 percent year-on-year in June to 791.8 billion yuan, according to data from the National Bureau of Statistics.

As the Chinese government managed to curb the spread of COVID in the country, the Chinese economy has largely recovered from disruptions caused by COVID. Nevertheless, it is now faced with slower industrial profit growth due to high raw material prices.

China's factory activity slowed last month because of a resurgence of COVID infections in the export province of Guangdong, curbing port processing capacity.

To the charts now:

U.S. stocks:

DOW:+82.76 ($35.144.31 USD)

S&P 500: +10.51 ($4,422.30 USD)

U.S. 30-YEAR TREASURY BOND: $110.61 USD

YIELD: 1.91%

SPOT GOLD: 1,798.70 USD/ounce

EUROPEAN MARKETS:

UK FTSE – 100: -65.46 (-0.93%, at 6,959.97 GBP)

FRANCE CAC-40: -53.59 (-0.81%, at 6,525.01 EUR)

GERMAN DAX-30: -140.52 (-0.90%, at 15,478.46 EUR)

U.S. DOLLAR CROSS RATES:

YEN: 110.0100

EURO: 0.8485

STERLING: 0.7252

SW FRANC: 0.9160

CAN: 1.2576

AUD: 1.3576