12th October 2021 Morning Report

U.S. stocks were mostly lower as investors were cautious before the third-quarter earnings season. Supply chain problems, higher costs for energy and continued volatility in covid-19 infections have fuelled concern about earnings. The Dow Jones Industrial Average slipped 0.56%, while the S&P 500 index and the Nasdaq Composite declined 0.47% and 0.36%, respectively. Energy and oil companies were among the best performers as the oil price continued to rise. 

U.S. bond markets shut Monday for the Columbus Day holiday.

Other key overseas markets were mixed, with trading choppy. Britain’s FTSE100 ended up 0.72%, while Germany’s DAX 30 and France’s CAC 40 declined 0.27% and 0.1% respectively. In Asia, China’s Shanghai Composite index slipped 0.01%, Japan’s Nikkei 225 ended 1.6% and Hong Kong’s Hang Seng closed 1.96% higher. 

West Texas Intermediate crude soared to $93 a barrel. 

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