General sentiment

Asian shares were down this morning, despite a record close in Wall Street. Biden’s proposed $1trilion infrastructure bill has now moved to the House of representative’s bolstering optimism in the markets. As it would be one of the biggest investments to date for roads, bridges, and airports. And yet another 3.5 trillion dollar deal is in the making lifting U.S. material and industrial sectors higher.

Equities

On Wall Street, the Dow and the S&P closed at record highs as economically sensitive stocks closed higher especially after the passing of the $1 trillion infrastructure bill from the Senates to House of Representatives.

The Energy, industrials and materials were amongst the biggest winners on the S&P.

Currency Market

The dollar hovered near its this year high ahead of U.S. CPI figures expected later today. The USD steadied at 92.13 close enough to its 93.43 ultimate high this year.

Against the Euro, for 6 straight sessions of gains, The Euro touched a low of $1.1704.

The dollar also affected the sterling which was trading at $1.382.

Commodities: Gold

Gold was up this morning, but a stronger dollar and higher yields capped gains. The yellow metal stood at $1,733.85.

Commodities: Oil

Oil eased up after gaining 2% overnight on signs of rising fuel demand in the U.S., Still, the spread of delta in china capped gains. WTI lost 18 cents after jumping 2.7% overnight.