Global Market Trends (15th Dec., 2021)

PMI, The producer price index increased 9.6% in November over the previous year and 0.8% on a monthly basis, according to data released Tuesday by the Bureau of Labor Statistics.

FED MEETING, The latest inflation check came as the Federal Reserve kicked off its two-day policy meeting on Tuesday. The central bank is expected to initiate a faster tapering of its bond-buying program and signal it will raise interest rates next year in an effort to mitigate inflation. Investors will be watching closely to see how the Fed's tapering plans are impacted by the spread of the omicron variant and a recent uptick in COVID-19 cases. 

INFLATIONARY DATA, The hotter-than-expected inflation data weighed on Big Tech stocks Tuesday, sending shares of Apple, Amazon, Microsoft, Alphabet and Meta lower. Uncertainty about COVID-19 caused oil to struggle for the second day, trading just above the $70-per-barrel mark.

Asian Market, Overseas, the Hang Seng index led Asian markets lower, falling 1.33%. The Nikkei 225 index and Shanghai Composite fell 0.73% and 0.53%, respectively. The Euro STOXX 50 fell 0.92%.