Global Market Trend (3rd Nov., 2021)

Analyst View
The U.S Stock indexes raced to fresh record highs on Tuesday while the Federal Reserve kicked off its two-day meeting while the market awaits the outcome of the meeting to price it into the market. The Dow Jones Industrial Average rose over 139 points or 0.39% reclaiming the 36,000 after hitting that level for the first time in its history Monday. The S&P 500 and the Nasdaq Composite rose 0.37% and 0.34%, respectively.

Corporate earnings rolled on, with 58% of companies in the S&P reporting results and 82% exceeding expectations. Pfizer boosted its annual sales outlook on strong sales of its COVID-19 vaccine and now expects to earn as much as $82 billion for the year. 

Tesla shares nosedived after Elon Musk disclosed the company does not yet have a signed contract from Hertz for the 100,000-vehicle purchase announced last week, which helped spiked the valuation of the company above the $1 trillion market cap milestone. 

FED meeting, The US inflation is on record high in the last three decades and it is been speculated that the meeting might mark the beginning of the tapering correction season.

Commodities-The benchmark U.S. crude lost 14 cents to $84.91 a barrel in electronic trading on the New York Mercantile Exchange. And gold ticked down by 0.36% to $1,788 an ounce.