Rivian Automobile, elevated inflation and the oil market are today’s three highlightsUpdated time: 24 Jan, 2022, 14:34 (UTC+04:00)
#Rivian Automobile, elevated #inflation and the oil market are today’s three highlights.
#RIVN’s first trading at $106.75 while offering was only at $78 made this IPO one of the largest events ever. For such a golden opportunity, investors, on the contrary, seem kind of patient to see whether or not to add this stock into the investment portfolio.
The whole market shocked as U.S consumer prices (#CPI) rose to 6.2% in October compared to one year earlier and also at the fastest pace in more than three decades. This stoked concerns about a sharp rise in inflation and rate hikes from the Fed to slow the demand-side.
Energy weighed on the broader market, pressured by oil prices decreasing after a rise in crude stockpiles, but only 1 million barrels against the expectations of 2.1 million.
#S&P 500, #Dow Jones and #Nasdaq slipped 0.82%, 0.66% and 1.6%, alternatively.
#Tech dragged lower by a 2% decline in chip stocks, led by #AMD and #QCOM.
#Cryptocurrency is still positive.
$1.1 billion worth of #TSLA shares were sold, reported by Elon Musk.