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Stock Markets

25 Oct 2021

Stocks Steady as Inflation Worries Loom; Covid Risks; Markets Recap

The Index Today

On Monday, European stocks and U.S futures remained steady as investors and traders analyzed inflation concerns, covid risks and foreign issues such as China’s economic outlook.

The Stoxx Europe 600 index showed minor change as the energy sectors and crude oil went up. Futures on Nasdaq 100 climbed up higher whereas the S&P 500 remained flat. It is important to note here that the Telecoms and consumer stocks suffered the most loss.

In other news, equities in Japan fell and in china remain mixed. This came after the central bank increased its liquidity and expanded property-tax. Authorities are expected to impose a new property tax over the next five years. The 10-year U.S Treasury yields climbed up as the dollar went down. Fed Chair Jerome Powell stated on Friday that inflation may stick around for longer and asset tapering process would begin on the proposed timeline.

Even with growing risks of price pressures caused by worldwide bottlenecks and supply chain issues, global equities remain strong and resilient. The Fed is taking a more aggressive approach to growing inflation worries. Top five technology firms including Facebook are expected to release their earnings report in upcoming weeks. Gold is seen moving towards $1,800 an ounce whereas Bitcoin moved up to $62,000. Saudi Arabia has said OPEC should continue on a more cautious approach with regards to managing crude oil supplies.

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