18th November 2021 Morning Report

U.S. stocks were marginally lower on Wednesday.  The Dow Jones Industrial Average was down 0.57%, while the S&P 500 and the Nasdaq Composite were lower by 0.21% and 0.26%, respectively, after all three of the major averages closed just below all-time highs the day before. The yield on the 10-year note closed at 1.61%, just below its highest point since May, due to concerns that the Federal Reserve could raise rates sooner than expected to slow inflation. The 10 - year note yield got as high as 1.64% in the morning. 

Other key overseas markets were choppy, with Britain’s FTSE 100 sliding 0.35%, France’s CAC 40 up0.14% and Germany’s DAX 30 slightly higher by 0.12%. China’s Shanghai Composite rose 0.44% while Hong Kong’s Hang Seng and Japan’s Nikkei 225 fell 0.25% and 0.4%, respectively.

West Texas Intermediate crude oil was marginally lower by eighty-one cents to $79.95 a barrel while gold rose $12 to $1,866.10 an ounce. 

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