Friday 12th November 2021 |
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U.S. stock markets were mixed after Wednesday’s sell-off, that came after an inflation reading hit a three-decade high. The S&P 500 was up 0.19% in recent trading. The technology-heavy Nasdaq Composite rose 0.74%. The Dow Jones Industrial Average pulled back 0.38%. Growth and technology stocks, which tend to perform poorly in an inflationary environment, rebounded.
Other key overseas markets rallied across the board, with France’s CAC 40 and Germany’s DAX 30 rising marginally 0.07% and 0.13%, respectively, while Britain’s FTSE 100 ended 0.44% up. Japan’s Nikkei 225 closed 0.59 higher, the Hong Kong’s Hang Seng rose 1.01% and China’s Shanghai Composite index jumped 1.15%, after indications that Beijing might moderate its tough property-sector rules. China Evergrande Group made another set of last-minute bond payments, averting default.
The US 10 - year note was at 1.57%.
West Texas Intermediate crude oil was marginally up 29 cents at $81.63 a barrel and gold rose $15.30 to $1,863.60 an ounce.
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