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US Equities rebound over concerns of slowdown in global economic growthThe three major US equity indices close on records last Friday, as they rebounded from the previous sessionโs losses amidst concerns of a slowdown in global economic growth. The Dow Jones rose 1.3%, the S&P 500 bounced by about 1.1% and the technology-heavy Nasdaq Composite rose just shy of 1%. The small-cap benchmark Russell 2000 rallied more than 2% on Friday. The yield on the 10-year Treasury rebounded 7 basis points to 1.36%, easing concerns about an economic slowdown. Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse.
Chinaโs cyberspace regulator also announced on Saturday that any company with data that surpasses over 1 million users will be subject to tight security reviews before they can get the approval to list their shares in other countries, clamping down hard on its large โplatform economy.โ The security review will put a focus on the risks of data being affected, controlled, or manipulated by foreign governments after companies list overseas as cited Cyberspace Administration of China on its website.
By
Kristal Advisors
July 12, 2021
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