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Wealth Daily 06 December 2021

WEALTH DAILY 2021-12-06
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Shares on Wall Street fell last Fri. The S&P 500 index fell 0.84%. The

technology-focused Nasdaq Composite dipped 1.92%. The small-cap Russell

2000 fell 2.13%. The blue-chip Dow Jones Industrial Average outperformed,

losing just 59.71 pts, or 0.17%, to close at 34,580.08.

US Treasury notes continued to slide, after a disappointing Nov jobs report. The

yield on the 10-year Treasury note slipped 10.14 basis points (bps) to 1.3430%.

In Oct, the 10-year yield had been as high as 1.77%.

Shares of DocuSign (DOCU US) sank 42.22% last Fri, as the e-signature

company’s quarterly revenue forecast missed analyst estimates. Adobe (ADBE

US, -8.24%) fell in sympathy. Adobe also offers e-signature software.

US electric vehicle manufacturer stocks fell sharply on Fri. Regulatory filings on

Thurs showed that Tesla (TSLA US, -6.42%) CEO Elon Musk sold another

US$1.01b to meet his tax obligations related to the exercise of options to buy

2.1m shares. Rivian (RIVN US, -5.51%) and Nikola (NKLA US, -4.35%) also fell.

The Invesco Golden Dragon China ETF (PGJ US, -9.32%), which tracks Chinaexposed

firms listed in the US, dropped sharply. Chinese ADRs face increasing

regulatory challenges from both US and Chinese authorities.

DiDi Global (DIDI US) fell 22.2%, after the Chinese ride-hailing firm announced

plans to delist from the NYSE and move its listing to Hong Kong.

The most actively traded US gold futures (Feb) contracts settled up $21.20, or

1.2%, at US$1,783.90/oz.

On Sat, the price of Bitcoin dropped to a low around US$43,000, down from the

US$57,000 bitcoin traded at Fri morning, according to CNBC. In early trade this

morning (Mon), bitcoin is passing at around US$49,000.

The ICE dollar index (DXY), which measures the strength of the greenback

against a basket of currencies, fell 0.04% to 96.117.

The front-month Brent futures closed up 21 cents at US$69.88/bbl, while the

front-month WTI futures closed down 24 cents at US$66.26/bbl.

European equity markets finished lower last Fri. The UK FTSE lost 0.1%,

France's CAC 40 fell 0.44%, while the German DAX retreated 0.61%.

Shares of BHP (BHP, -2.74%), Rio Tinto (RIO LN, -3.02%), Glencore (GLEN LN,

-0.78%) as iron ore prices fell on China’s steel output restrictions.

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