- On Friday, equities in the US slumped as the chairman of the Federal Reserve expressed concern about inflation.
- The S&P 500 fell 0.1%, while the Nasdaq 100 fell 0.9%, as Fed's Powell stated that the central bank was closely monitoring price pressures and will adjust accordingly.
- Global supply-chain limitations and shortages, which have pushed up prices, "are likely to endure longer than originally predicted, perhaps well into next year," according to Fed's Powell, who added that "it is still the most likely case" that when those constraints relax, inflation would fall.
- Higher pricing pressures and global supply-chain constraints are causing investors to worry that the Fed may raise interest rates sooner than planned. However, a strong start to the earnings season has allayed those anxieties, with the S&P 500 index setting a new high on Thursday.
- Higher pricing pressures and global supply-chain constraints are causing investors to worry that the Fed may raise interest rates sooner than planned. However, a strong start to the earnings season has allayed those anxieties, with the S&P 500 index setting a new high on Thursday.
- The 10-year US Treasury yield dipped to 1.64% this week, but it was still higher than the previous week. The dollar dipped slightly, putting it on course for a second week of losses. When the value of gold increased.
- The declines came after the S&P 500 struggled to find direction early in the session following poor tech earnings. Snap warning 'son ad spending wiped out more than $100 billion in market value for the social media business and its peers, including Facebook, Alphabet, Pinterest, and Twitter and Intel. Meanwhile, slumped due to lower-than-expected sales and component shortages.
- Despite the threat of pricing pressures, global markets are poised to post their third weekly gain, aided by the continued recovery from the health-care crisis. On Friday, European markets rose, led by consumer companies, which rose on the back of solid earnings. Asia's stock markets also gained after China's Evergrande Group pulled back from the brink of default, reducing fears of a contagion effect from the property developer's problems.
- After Russia's central bank boosted borrowing prices by more than economists expected, crude oil rose, bitcoin sank to $60,900, and Russia's ruble soared.
