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Stockhouse @ the Bell: Inflation … How High Can It Go?

Stockhouse Editorial
2 Comments| December 10, 2021

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As the closely watched US inflation print came in essentially in line with expectations, Canada’s main stock index eroded on Friday, with sentiment remaining tense around the pandemic, as worries persist and uncertainty looms over US monetary policy. The tech sector clocked in some gains.

US stocks pushed higher, extending solid weekly gains, as investors reacted to a key reading of consumer price inflation while tracking developments in coronavirus infections around major world economies. Driven by pricier energy, food, and housing, consumer prices across America have risen at their fastest annual pace (+6.8%) in nearly 40 years, as of November.

Today in the Markets

TSX 20,890.62 -34.87 Click to enlarge
TSXV 908.99 -1.16 Click to enlarge
CSE 546.36 -1.62 Click to enlarge
DJIA 35,970.99 +216.30 Click to enlarge
NASDAQ 15,630.60 +113.23 Click to enlarge
S&P 500 4,712.02 +44.57 Click to enlarge

The Canadian dollar traded for 78.53 cents US compared with 79.10 cents US on Thursday.

Crude oil prices were up 0.24 to $71.18.

The price of gold was up 9.74 to $1,785.99.

In world markets, the Nikkei was down 287.70 points to 28,437.77, the Hang Seng was down 259.14 points to 23,995.72, the FTSE was down 24.79 points to 7,296.47, and the DAX was down 5.94 points to 15,633.32.

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Theralase Technologies Inc. V.TLT 7830
Datametrex AI Ltd V.DM 2278
EV Battery Technologies Corp. C.ACDC 1976
HEXO Corp. T.HEXO 1681
Nevada Copper T.NCU 1567
Bombardier Inc. T.BBD.A 1222
Surge Energy Inc. T.SGY 1199
Xebec Adsorption Inc T.XBC 1081
CGX Energy Inc V.OYL 1045
Baytex Energy Corp T.BTE 1019

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As long as Central Bankers do periodical bond purchasing and keep rates extremely low and leaders in North American are pledging to be less reliant on domestic crude and more reliant on OPEC over-seas crude, inflation will continue to rise until prices get so high, that consumers start maxing out their credit cards and starting cutting back on everyday consumer items, so they can afford to put gas in their vehicle in order to get to work. As consumer's cut back, then prices will drop. In the end
December 13, 2021

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