Rivian, Inflation Effects, Oil Market: 3 Things to Watch By Investing.com – Investing.com

Rivian, Inflation Effects, Oil Market: 3 Things to Watch By Investing.com – Investing.com

© Reuters

By Sam Boughedda

Investing.com -- Tech stocks tumbled on Wednesday after data showing U.S. consumer prices rose the most in 31 years, stoking fears that inflation is not backing down. 

The consumer price index rose 6.2% in the 12 months through October, according to the Labor Department. That’s the biggest yearly move higher since November 1990.

On Tuesday producer prices data showed a rise in October. Manufacturers are passing higher costs to consumers, whose spending contributes two-thirds of U.S. economic output.

The big deal of the day was the public debut of electric truck maker Rivian, which soared 30% on its first day and had a market value greater than that of Ford Motor Company (NYSE:) and General Motors Company (NYSE:). 

Wednesday's losses also came after data showed Chinese factory gate prices hit a 26-year high in October, Reuters reported, while economic advisers to the German government said they expected the current rise in inflation to continue well into 2022.

Here are three things that could affect markets tomorrow, when the bond market is closed in the U.S. for Veteran's Day:

1. Rivian IPO still dazzles

Rivian Automotive Inc (NASDAQ:) made a strong start to