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Target Stock Falls as High Inflation Persists

The stock of the American retail corporation Target has fallen by 4.35% in Wednesday’s pre-market trading session, currently priced at $254 a share, driven by increased worries of record-high inflation continuing to linger, which disincentivize consumers to purchase products at such high prices.  


Trade ministers of the United States, the European Union and Japan have officially agreed to renew a trilateral partnership, focused on addressing global challenges caused by non-market policies and practices of third-world countries. There shall be an official conference to be held from the 30th of November until the 3rd of December.

China’s cabinet announced that the Asian nation shall establish a unique relending valued at 200 billion yuan ($31.35 billion), focused towards supporting the clean use of coal, as quoted by state broadcaster CCTV on Wednesday. The facility shall be used to promote clean and efficient processing of coal.


The U.S. dollar edges solidifies comfortably and edges slightly higher, driven by sturdy U.S. data and comments from the Federal Reserve policymakers which boosted expectations of interest rate hikes to be initiated as early as mid-2022. The dollar index edged 0.07% higher to 95.980.


Gold futures jump higher once again but remains near recent lows, as retail sales in the United States drove the dollar greenback near 16-month highs. Despite the dollar greenback rising, which typically moves inversely to the safe haven, the precious metal jumped 0.73% to $1,863 per ounce.


Crude oil prices drop for another session, after the International Energy Association (IEA) and the Organization of Petroleum Exporting Countries (OPEC) warned of a looming crude oil oversupply, as coronavirus cases in Europe continue to surge, adversely impacting demand recovery. Brent futures dropped 0.59% to $81.92 a barrel, while WTI futures declined 0.84% to price at $79.08 a barrel.


USA: S&P500 -0.20%, Dow Jones Industrial Average -0.25%, Nasdaq Composite +0.01%

Europe: FTSE 100 -0.41%, DAX +0.08%, CAC 40 +0.15%

Asia: Nikkei 225 -0.40%, Hang Seng -0.25%, CSI 300 +0.05%, Nifty 50 -0.56%


Salesmen Threaten to Disrupt Reliance Supply

A letter seen by Reuters unveiled that salesmen from India have threatened to disrupt & derange supplies to stores which are partnered with the renowned Reliance giant. As per the Reuters report, Indian salesmen from companies such as Reckitt Benckiser, Uniliever and Colgate-Palmolive stated that their sales declined 20-25% in the last year as small, family-owned and independent businesses were increasingly in partnership with Reliance to provide lower prices, dominating the market.

Apple: Demand for iPhone 13 Has Weakened

According to people familiar with the matter, Apple has informed to its suppliers that the demand for the iPhone 13 has slowed down. The company has already cut iPhone 13 production by 10 million units due to global semiconductor chip shortages, as well as coronavirus-related manufacturing issues in Asia. The news of weaker iPhone 13 demand has pushed the Apple stock downwards by 2.92% in early trading sessions.

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