🕵️‍♂️ I SPY, QQQ, IWM TA - Friday Nov. 12, 2021

Nov 12, 2021

∙ Paid

US Market Wrap - Financial Juice

After a selloff in the previous session due to expectations that high inflation might necessitate tighter monetary policy, US shares gave back their gains on Thursday.
The S&P500 rose less than 0.1%, powered by advances in materials and technology, after plunging 0.8% on Wednesday, its largest drop in more than a month. Tesla Inc. changed after papers revealed that CEO Elon Musk liquidated $5 billion in stock. Meanwhile, Walt Disney Co. and Beyond Meat Inc. both fell after reporting disappointing quarterly results.
The US cash treasury market was closed for a holiday.
Investors are ready for monetary policy adjustments sooner rather than later, as higher-than-expected consumer prices have delivered a setback to assertions that inflation is transitory. Inflationary pressures may drive the Fed to taper at a faster rate or raise interest rates sooner than expected if inflation remains high. Simultaneously, equities are nearing all-time highs as robust earnings and economic growth prospects force the stock market higher.
Oil struggled to find a direction as investors assessed the likelihood that the White House would interfere to cool prices. Gold was approaching a five-month high. Stocks rose in Europe, while Chinese equities rose in Asia on anticipation that the government will lessen its standoff with property developers. The dollar was stronger against its major counterparts.