Marketplace Shortages Persist
5/14/2021 8:41:03 AM
Gold prices hit $1,844.12 per ounce by 9:00 a.m. EDT. Silver hit $26.93.
Gasoline shortages plagued the United States as a result of a hack on Colonial Pipeline, Co., a crucial operator. Americans felt the pinch as scarcity grew and gasoline prices rose to over $3 a gallon. Efforts were made from a governmental standpoint to reduce pressure and Colonial got back to business late in the week.
The week brought a largely downward trend for stock futures, Treasuries and the U.S. dollar.
Computer chip shortages continue to threaten multiple markets, including the automotive industry. However, the shortage brought good news for used car sales, as prices rose 10%. The rise was unprecedented across data collected since 1953. Consumer goods prices also saw an uptick of 0.9% between March and April, the most since 2009.
U.S. agricultural exports were threatened late-week by a hiccup in export routes through the Mississippi River. A crack in a bridge along the route inhibited more than 700 barges of exports from passing, threatening markets tied to exports. Another point of concern this week from an international standpoint is the Israel-Palestinian conflict that continues to rise to a crescendo.