Wealth Daily 16 November 2021

The rally on Wall Street ran out of steam on Mon. The S&P 500 reversed earlier tentative gains and closed nearly unchanged. Tesla (TSLA US, -1.94%) fell again, after CEO Elon Musk suggested over the weekend he might sell more stock. Tesla stock declined 15.4% last week. The tech-heavy Nasdaq Composite retreated 0.04% on Mon. The Dow Jones Industrial Average lost 12.86 pts, or 0.04%, to close at 36,087.45.

Boeing (BA US, +5.5%) rose following news that Saudi Arabian Airlines is in talks with Airbus (AIR FP, +1.7%) and Boeing for a wide-body jet order. The yield on the 10-year Treasury note notched up 5.32 basis points (bps) to 1.6145%, the highest level in two weeks. The most actively traded US gold futures (Dec) contracts settled down $3.70, or 0.2%, at US$1,864.80/oz. December silver, which is the most actively traded silver futures, fell 21.6 cents, or 0.8%, to end at US$25.135/oz.

The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, rose 0.4% to 95.510, to around the highest levels since July 2020. The front-month Brent futures closed down 12 cents at US$82.05/bbl, while the front-month WTI futures closed up 9 cents at US$80.88/bbl.

European equity markets finished higher on Mon. The UK FTSE gained 0.05%, France's CAC 40 rose 0.52%, while the German DAX advanced 0.34%.