November 4, 2021
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia reviewed the market numbers this week, and also touched on Jerome Powell’s predictions for inflation.
Celia stated, “On Wednesday, the federal reserve spoke and the indices moved to positive territory. NASDAQ was up over one percent. The Russell 2000 was also up over one-and three-quarter percent. Dow Jones was only up a quarter, but nonetheless a positive sentiment. When we look at oil, it was down at $80 and 19 cents. It looks like it could dip below 80 by the end of this week. Let’s hope that is the case. Industrial data shows a big buildup in U.S. inventories. Brent crude oil also dropped to $81.38, but not gas, which is still up close to three percent. It just keeps on running higher, which is not good news.
“The federal reserve chairman Jerome Powell indicated that they would start tapering their bond purchasing by $15 billion a month. He also indicated that inflation is not expected, in his opinion, to change for the rest of this year and into next year from where it is right now. He did keep the word transitory out of his speech. That was smart, but I disagree. Inflation will go up from here, not because of what the federal reserve is doing or isn’t doing, but because it has to go up. We’ll see what the rest of the week brings, but the market had all kinds of issues this week.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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