AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Benchmark US indices closed in the red on Wednesday, Nov 10, after the latest economic data showed inflation rose at an annualized rate of 6.2% last month, the highest increase in 30 years.
The S&P 500 was down 0.82% to 4,646.71. The Dow Jones fell 1.01% to 36079.94. The NASDAQ Composite fell 1.66% to 15,622.71, and the small-cap Russell 2000 was down 1.52% to 2,390.34.
The consumer-price index rose 6.2% YoY in October, and inflation remained above 5% for the fifth consecutive month, fueled by demand and tight supplies, the Labor Department said on Wednesday.
The core price index rose 4.6% from a year earlier, and the monthly CPI rose to a seasonally adjusted 0.9% in October from the previous month. The department said the high energy cost, rentals, healthcare, automobiles, and furniture pushed the CPI up.
Must Know Global Cues before the ASX Opening Bell
On Wednesday, consumer staples, healthcare, and utility stocks were the top gainers on the S&P 500 index, while technology, consumer discretionary, and energy stocks were the hardest hit. Only three of the index’s 11 segments remained in the green.
Rivian Automotive, Inc. (RIVN) stock jumped around 30% in its market debut on Wednesday. The stock opened at US$106.75, well above its offer price of US$78.
In technology stocks, Microsoft Inc. (MSFT) declined 1.54%, Apple Inc. (AAPL) fell 1.77%, and Nvidia Corporation (NVDA) plunged 4.05%. Adobe Inc. (ADBE) and Salesforce.com Inc. (CRM) declined 2.95% and 3.68%, respectively.
In the consumer discretionary sector, Amazon.com (AMZN) stock fell 2.55%, Nike Inc. (NKE) plunged 3.45%, and Home Depot Inc. (HD) declined 0.58%. In addition, Lowe’s Companies Inc. (LOW) fell 0.76%, and Starbucks Corporation (SBUX) stock was down 0.47%.
In the utility sector, NextEra Energy (NEE) stock grew 0.45%, Southern Company (SO) increased by 0.62%, and Dominion Energy Inc. rose 1.30%. Exelon Corporation (EXC) and American Electric Power Company Inc. (AEP) jumped 0.41% and 1.32%, respectively.
Also Read: Seven green stocks that may give a leg-up to the sector in 2022
Also Read: RingCentral (RNG) stock soars on solid earnings, Mitel partnership
Also Read: Vaxxinity IPO: Is biotech firm’s VAXX stock worth considering?
Futures & Commodities
Gold futures were up 1.28% to US$1,854.15 per ounce. Silver increased by 1.68% to US$24.727 per ounce, while copper fell 1.72% to US$4.2977.
Brent oil futures decreased by 2.56% to US$82.61 per barrel and WTI crude futures declined 3.41% to US$81.28.
Bond Market
The 30-year Treasury bond yields was up 5.19% to 1.916, while the 10-year bond yields up 7.87% to 1.563.
US Dollar Futures Index increased by 0.98% to US$94.877.
