Skip to content Skip to footer
U.S producer Price index unexpectedly rises

S&P 500 Drops and U.S. PPI Increases, Palantir Shares Fall Despite Strong Earnings & Spending in Retail Increases 1.3% in The UK

S&P 500 moves lower, as U.S. PPI increases

The benchmark S&P 500 fell for the first time in 7 sessions today, as data revealed that producer prices in the U.S. had risen.

Figures from the Labor Department showed that the producer price index rose 0.6% in October, after gaining 0.5%the month prior.

The rise in PPI was as expected, with many in the markets forecasting a 0.6% increase in figures for last month.

đź’ˇ What is the producer price index, and why is it important?
The Producer Price Index (PPI) program measures the average change over time in the selling prices received by domestic producers for their output. The prices included in the PPI are from the first commercial transaction for many products and some services.

Many believe that the PPI is the indicator that precedes the CPI, if the cost of manufacturing rises, the finished product will do so as well.

Overall, roughly 60% of last month’s increase in PPI was due to the prices of goods rising 1.2%, in addition to a 6.7% surge in gasoline prices.

Many attribute the rise in prices to come from bottlenecks in the supply chain, caused by the spread of the Delta Variant of COVID-19.

As of writing, the S&P 500 was trading 0.48% lower, with Gold prices climbing to $1,834, the highest since August.

Palantir shares fall despite strong earnings

As Q3 earnings season waged on, Tuesday saw markets react to Palantir’s call with investors, where it reported better than expected revenue growth for the quarter.

Despite reporting annual revenue growth of 36% to $392 million, shares in the company fell as the figures dropped from a 49% annualized increase, during Q1 and 2.

The company, founded by Peter Theil confirmed earnings of 4 cents per share, which came in as expected. In addition to revenue for the quarter of $392 million vs. $385 million expected.

Get Daily Market insights Through TradeGATEHub

Palantir went on to forecast revenue for the fourth quarter, expecting this to come in at $418 million, which is currently higher than the $402 million many expect.

Shares in Palantir Technologies were down close to 9% as of writing.

UK retail sales increase, yet FTSE 100 declines

The FTSE 100 closed Tuesday’s session lower, despite data from the United Kingdom showing that retail sales were on the rise.

Data from the British Retail Consortium reported that spending rose by 1.3%, compared with the same period last year.

This growth in October comes after a slowdown in retail activity in September, which saw sales increase by only 0.6% for that month.

đź’ˇ First China now India?
India’s Government is set to pass a bill that would ban all cryptocurrencies. The nation’s finance authorities remain conservative on the matter

According to a bulletin posted on Lok Sabha, the Indian parliament’s official website, The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, aims to create a framework that would facilitate the creation of a central bank digital currency (CBDC).

And as we saw with China, the push against crypto does certainly put pressure on cryptos, but not enough to hinder future growth. In fact, prices were only negatively impacted in local Indian crypto exchanges

KPMG, who produce the data along with the Retail Consortium, stated that “The much-reported squeeze on household spending has yet to materialize as consumers seem happy to carry on shopping”.

London’s FTSE 100 fell 0.36% in the session.

“We want to perceive ourselves as winners, but successful traders are always focusing on their losses.”

– Peter Borish

Eliman Dambell

Senior Market Analyst


Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, PerĂş.