veterans day holiday in us remembrance day holiday in canada stock futures crept up as investors digested inflation data and earnings from disney and beyond meat while rivian automotive shares extended their tradingdebut pop premarket walt disney posted earnings wednesday after markets closed it reported a slowdown in subscriber growth as lockdowns eased sending its shares down 5 in premarket trading plantbased meat company beyond meat lost nearly 20 of its value after it posted a disappointing revenue forecast citing pandemicrelated uncertainty on demand companies reporting thursday include fashion house tapestry and electricvehicle maker lordstown motors so far this season 81 of sp 500 companies that have posted results have beaten wall streets expectations for earnings per share stocks snapped an eightday recordsetting streak this week as concerns about inflation reignited data on wednesday showed that prices in the us rose 62 october from the previous year the biggest increase in 31 years the pickup is seen by some analysts as increasing the likelihood that the federal reserve could raise interest rates in 2022 todays still all about inflation trying to extrapolate what it means  said esty dwek chief investment officer at flowbank this print isnt a surprise even if its higher than expected i dont think it changes the feds trajectory ms dwek said the kneejerk market reaction to the inflation data was fading fundamentals still remain strong earnings are much stronger than expected this quarter despite the delta variant and supply chain challenges she said rivian automotive climbed another 9 premarket adding to its 29 jump when the electricvehicle company started trading wednesday its closing price gave it a valuation of roughly 86 billion based on the expected number of shares outstanding tesla rose 35 in premarket trading regulatory filings showed that elon musk sold 5 billion of shares in the auto maker earlier in the week twitter users directed the chief executive to sell 10 of his stake in the company valued at 21 billion in an online poll last weekend overseas the pancontinental stoxx europe 600 was relatively flat swiss chemicals company sika rose 10 after saying it would buy mbcc group a german competitor for 6 billion steelmaker arcelormittal climbed 45 after reporting a sharp rise in quarterly profit british chemicals company johnson matthey tumbled over 18 after it issued a profit warning and said it planned to sell its batterymaterials business in asia most major benchmarks rose shares of chinese developers rallied on indications that beijing might moderate its tough propertysector rules china evergrande group made another set of lastminute bond payments averting default the dollar rose to a 15monthhigh as the market prices in an increased chance of a us interest rate rise in 2022 after higherthanexpected inflation data on wednesday the dxy dollar index gains 02 to 950760 its highest level since late july 2020 the dollar didnt benefit much immediately after the data unicredit analysts said indeed the usd appreciation became much more evident as the us forward curve started to reflect a rising probability of a first rate hike by the fed between june and september 2022 bitcoin is being used as the newage inflation hedge but that doesnt necessarily mean the cryptocurrency offers decent protection against losses stemming from rising price pressures swissquote bank analyst ipek ozkardeskaya said bitcoin is not in any way fundamentally tied to the monetary policy or the economic fundamentals that would make it a fundamentally strong hedge against rising consumer prices she said what makes bitcoin a good inflation hedge is people thinking that it is a good inflation hedge which can work well but is vulnerable she said bitcoin fell 06 to 65735 after hitting a record high of 69355 on wednesday according to factset after data showed us inflation accelerated by more than expected in october sterling fell after data showed thirdquarter uk economic growth slowed by more than expected the leadup to christmas doesnt look full of festive cheer as retailers warn over supply chain issues and consumers face steep price rises fidelity international ed monk said a slowing recovery and increasing inflation is a troubling mix for policymakers in both westminster and the bank of england the us bond market is closed thursday for the veterans day holiday the latest us inflation report showing headline inflation hitting a threedecade high of 62 in october will certainly reignite the debate on the timing of fed rate hikes said vincent manuel chief investment officer of indosuez bond markets are expecting a first interestrate rise in july 2022 and a second by the end of 2022 with the implicit probability of rate hikes firming up following the october inflation report he said overall these data validate the thesis we have been defending for several months with an acceleration towards an inflation plateau at the end of the year and the beginning of 2022 before an anticipated decline from the spring onwards he said the fed is taking a big and unnecessary gamble by delaying policy tightening as inflationary pressures are not abating yet said luca paolini chief strategist at pictet asset management inflationary pressures are global but are more pronounced in the us and least pronounced in europe he said after us inflation hit a threedecade high of 62 in october paolini said that inflation hedges such as us treasury inflationprotected securities known as tips and commodities are very expensive while the most attractive hedge is cyclical value stocks such as banks property and energy and the us dollar investors increasingly need to look beyond fixed income at other sources of income given rising inflation and the prospect of higher interest rates said stephen dover chief market strategist and head of franklin templeton investment institute rising interest rates do not support fixed income as an appreciating asset class he said though he notes that government bonds have historically provided a ballast for portfolios during volatile periods franklin templeton sees significant investment growth in alternative assets including hedge funds and commercial real estate assets that may provide diversification away from equity and fixed income oil prices edged lower after data showed us crude inventories rose the energy information administration said stockpiles rose by 1 million barrels though the increase was lower than last month when inventories added 33 million barrels gasoline stockpiles fell by 16 million barrels distillate inventories declined by 26 million barrels the figures on the whole were bearish or neutral for oil prices analysts at dnb markets said gold hovered near a fivemonth high after us cpi data fueled inflation fears the precious metal hit a fivemonth high intraday wednesday after the data showed inflation at its highest level in three decades it subsequently pared some gains but is rising again thursday the cpi data appears to have reaffirmed golds role as an inflation hedge ed meir metals consultant for edf man said a stronger dollar and higher bond yields have been weighing on gold in recent months despite inflation concerns wednesdays action seems to have broken that trend he says golds focus at least for now seems to be on the inflation threat meir said chinese developers rally on policy hopes as evergrande again averts default stocks and bonds of chinese developers jumped on signs that beijing could moderate its tough stance on the beatendown property sector while industry heavyweight china evergrande group again averted default by making another set of lastminute bond payments on thursday in hong kong the hang seng mainland properties index gained 56 building on a rally in the previous session some realestate stocks surged more with china aoyuan group ltd gaining 12 and china vanke co jumping 67 elon musk sold about 5 billion in tesla inc shares this week as he exercised stock options that he received as part of his compensation package according to regulatory filings made public late wednesday the tesla chief executive first exercised just over 2 million stock options monday that were valued at roughly 25 billion at the days close paying around 134 million in exercise costs the socialmedia company said wednesday it is assembling a team called twitter crypto to look into ways to help creators on the app to earn money or accept cryptocurrencies such as bitcoin for payment and other ways to use blockchain technology spacex launched another crew of astronauts into orbit wednesday night the fourth time the company founded by elon musk has blasted astronauts into space for nasa a spacex falcon 9 rocket topped by a crew dragon capsule lifted off from kennedy space center in florida at 903 pm et and headed toward the international space station according to a national aeronautics and space administration livestream four people were on board the crew dragon spacecraft nasa astronauts raja chari tom marshburn and kayla barron as well as european space agency astronaut matthias maurer