10th November 2021 Morning Report

U.S. stock markets pulled back from previous record highs on Tuesday, after another bad inflation number. The producer price index increased 0.6% in October, in line with what analysts were expecting. Prices rose 8.6%, recording the seventh straight record year on year increase. The Dow Jones Industrial Average declined 0.54%, while the S&P 500 index and the Nasdaq Composite index slipped 0.43% and 0.62%, respectively. 

Other key overseas markets were mostly higher, with Britain’s FTSE 100 up 0.07%, Germany’s DAX 30 advancing 0.24% and France’s CAC 30 rising 0.33%. Japan’s Nikkei 225 declined 0.75% while Hong Kong’s Hang Seng and China’s Shanghai Composite ended both higher, 0.2% and 0.24%, respectively. 

West Texas Intermediate crude oil jumped forty-three cents to $82.36 a barrel while gold ticked up ninety cents to $1,829 an ounce. The yield on the 10-year note was down to 1.45%. 

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