Global Market Trends (18th Nov., 2021)

The U.S. stocks declined at the Wednesday trading session as investors weighed in on the impact of inflation while they also await President Biden's pick to head the Federal Reserve. The Dow Jones Industrial Average slipped 210 points, or 0.58%, while the S&P 500 index and the Nasdaq Composite index declined by 0.26% and 0.33%, respectively. 

FED Head Biden will decide in the next few days whether to give Chairman Jerome Powell a second term or hand over the reins to Fed governor Lael Brainard.  The next leadership of FED will impact significantly on the direction of monetary policies.

Amazon.com Inc. said it will stop accepting Visa Inc. credit cards in the U.K. due to high fees for processing transactions. Visa hopes to resolve the situation before the ban goes into effect on Jan. 19.

Pfizer CFO Frank D’Amelio will retire after almost 15 years at the drug company. An external search for his successor is already underway. 

Commodities, West Texas Intermediate crude oil closed down $2.40 at $78.36 per barrel, settling below $80 for the first time since Nov. 4. Gold, meanwhile, jumped $16.10 to $1,869.70 an ounce. 

European Index traded mixed with Britain’s FTSE 100 sliding 0.49%, France’s CAC 40 rising 0.06% and Germany’s DAX 30 edging higher by 0.02%. 

Asia, China’s Shanghai Composite advanced 0.44% while Hong Kong’s Hang Seng index and Japan’s Nikkei 225 declined 0.25% and 0.4%, respectively.