25th November 2021 Morning Report

U.S. stock markets were mixed at midday Wednesday, following a slew of both disappointing retail earnings and economic reports. A second estimate of 3Q GDP came in at 2.1%, slightly ahead of the previous 2.0% check, but well below the 6.6% growth rate in the second quarter. Durable Goods declined by 0.5%. Prices rocketed by 5% in the year through to October, according to the latest Personal Consumption Expenditures price index data. That topped the previous month's estimates, becoming the strongest increase, since November 1990. Oil was at $78 per barrel level, after gaining over 2% Tuesday, despite President Biden's mandate to release fifty million barrels from the U.S. strategic reserve to assist a decrease in energy costs. The U.S. 10 – year note was at 1.65% and the 2-year treasury was at 0.642%. 

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