Global Market Trends (11th Nov., 2021)

Analyst View
U.S. stocks indexes declined Wednesday riding on the released inflation report that showed consumer prices accelerated by the most in 31 years. The Dow Jones Industrial Average fell 240 points, or 0.66%, while the S&P 500 index and the Nasdaq Composite index declined 0.82% and 1.66%, respectively. The selling caused all three of the major averages to post the second day of losses after closing at record highs on Monday.

Consumer prices climbed 6.2% year over year in October and rose 0.9% from the prior month. Analysts were expecting a 0.6% jump in October.  

Treasury Notes-Following the report, the yield on the 10-year note jumped higher by 11 basis points to 1.56%. The catalyst for the surge was a weak 30-year bond auction that occurred in the wake of the CPI report. 

Commodities, West Texas Intermediate crude oil slid $2.81 to $81.34 a barrel and gold spiked $17.40 to $1,847.60 an ounce. 

Europe's bourses were on an uptrend with France’s CAC 40 ticked up 0.03%, Germany’s DAX 30 rose 0.17% and Britain’s FTSE 100 climbed 0.91%. 

Asian trading was choppy with Hong Kong’s Hang Seng index climbing 0.74%, China’s Shanghai Composite index falling 0.42% and Japan’s Nikkei 225 losing 0.61%. 
















SOURCE: CNBC
IMAGE SOURCE: PIXABAY