Rolling coverage of the latest economic and financial news
- Latest: US factory orders dip amid supply problems
- Greggs chicken bakes hit by supply shortages, reports say
- Iceland boss warns that supply chain crisis threaten Christmas
- Need to put HGV drivers on list of essential skilled workers
- Richard Walker: Self-inflicted wound after Brexit
- Supply chain crisis affecting retailers stocks and food ranges
- Coop boss: Food shortages worst I have seen
- FTSE 250 record high..Takeover battle may put Morrisons into FTSE 100
3.24pm BST
In the shipping industry, a key measure of freight costs has dropped back from its highest level in a decade, following the full reopening of the world’s third-busiest port in China.
Baltic Dry Index Falls 0.19% to 4,193
Capesize -1.57% to $50,662
Panamax +1.06% to $33,633
Supramax 58k tons +1.29% to $37,249#DryBulk #Shipping #2020Bulkers $DSX $EGLE $GBLK $GNK $GOGL $SBLK pic.twitter.com/FJ3MURymLe
3.09pm BST
In New York, the tech-focused Nasdaq index has opened at a fresh record high.
The Nasdaq Composite has picked up another 17 points, or 0.1%, to nudge 15,037 points, as technology companies continue to shine.
Moderna finalizes submission to FDA for full approval of its COVID-19 vaccine.
It’s not yet clear how long the FDA will take to review the application. https://t.co/iYIlKP84h9
(Reuters) – The Nasdaq opened at a record high on Wednesday, lifted by gains in technology-related stocks, while broader markets remained subdued ahead of a U.S. monetary policy update this week. https://t.co/GP8LrOXLf0
The minutes of the latest Fed meeting have already made it clear that most committee members believe tapering should start before year end. But given that there are still three meetings left this year, markets will look for any clues as to which meeting will see the starting gun fired.
In our view, more progress needs to be made towards full employment, and September is thus unlikely, but it is a close call between November and December.
