Driven by rising costs, the U.S. producer price index (PPI) accelerated in October, further stimulating concerns about continued high inflation. Data released by the US Department of Labor on Tuesday showed that PPI increased by 0.6% month-on-month and 8.6% year-on-year, the largest annual increase since 2010, in line with economists' expectations. Excluding volatile food and energy, core PPI increased by 0.4%, a year-on-year increase of 6.8%.

St. Louis Fed President James Bullard said that inflation in the United States seems to be broader than sometimes portrayed. He said that the labor market is very tight and will continue to do so. The unemployment rate in the first quarter of 2022 may fall below 4%. Bullard predicts that the US GDP growth rate will exceed 4% in 2022, and strengthened control of the epidemic will promote US economic growth.

Interest rates are expected to stay low for longer: Fed governor Lael Brainard is a strong competitor to Jerome Powell's re-election as Fed chairman. Since the emergence of this strongest signal so far, Wall Street has set off a heated debate, and major institutions have speculated if President Joe. Biden really announced how the financial market will react to her nomination. Bloomberg News reported on Monday that Brainard was interviewed for the post of chairman of the Federal Reserve when he went to the White House last week. The longest pending nomination in modern history has made it no longer certain that Powell can work for another four years when his term expires in February next year, although the outside world has always believed that he will be nominated again.

The US government predicts that by the beginning of next year there will be an oversupply in the oil market and prices will fall. Compared with the outlook just a month ago, it has given a more bearish view. This forecast is expected to lower expectations that the White House may release emergency reserves to curb fuel prices. The U.S. EIA pointed out in its “Short-Term Energy Outlook” report on Tuesday that next year, the growth of OPEC and its allies, U.S. shale oil and non-OPEC countries’ supply growth will exceed the slowdown in global consumption and promote global The price of benchmark crude oil dropped from its current level to an average of $72 per barrel per year.

Tesla's market value has evaporated by nearly $175 billion, and it is moving towards its biggest two-day decline in 14 months. A series of negative news has caused the stock price to lose its upward mobility. After Musk tweeted whether he should sell 10% of Tesla's stock, bad news began to follow. First, the disclosure documents showed that Musk's brother Kimbal had sold some shares before Twitter users voted. Later, Business Insider reported that the well-known "big short" Michael Burry said that Musk might want to sell shares to repay personal debts.

Apple CEO Tim Cook stated that the company is studying the function of cryptocurrency, but has no immediate plans to introduce such a function in Apple Pay. Cook made the comments at the DealBook meeting of the New York Times on Tuesday. He was asked whether the company plans to support cryptocurrency purchases in its Apple Pay feature. Cook said that although he personally invests in cryptocurrency, he has no plans to invest Apple's cash in the asset. He said, "I don't think people buy Apple stock to gain exposure to cryptocurrency."

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