Tuesday 19th October 2021
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U.S. stock markets ended mixed on Monday as oil prices retreated from seven-year highs and industrial production slowed. The Dow Jones Industrial Average declined 0.13%, while the S&P 500 and the Nasdaq Composite rose 0.23% and 0.6%, respectively. Industrial production fell 1.3% in September as opposed to a 0.2% expected gain. The August figure was revised down to a 0.1% contraction, from a previous reading of 0.4% growth. A further concern to the markets was the slowing of the Chinese economy, as growth declined to 4.9% for the third quarter, compared to the same period last year and down from 7.9% the previous quarter, due to supply bottlenecks and the Evergrande debt crisis. Economists were expecting 5.2% growth.
Other key overseas markets were mostly weaker, with the UK’s FTSE 100 down 0.42%, Germany’s DAX 30 0.72% lower and France’s CAC40 declining 0.81%. China’s Shanghai Composite and Japan’s Nikkei 225 fell 0.12% and 0.15%, respectively, while Hong Kong’s Hang Seng ended up 0.31%.
The 10 – year Treasury note reached 1.60% close to a four - month high. West Texas Intermediate crude oil declined by 26c to $82.02 per barrel.
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