Markets mixed, supply chain problems “will get worse”

Markets were mixed on Monday.

The S&P 500 rose 0.3 percent but the STOXX Europe 600 fell 0.5 percent and the Shanghai Composite fell 0.1 percent.

US investors shrugged off news of a worse-than-expected 1.3 percent decline in industrial production in September.

Edward Moya, senior market analyst at Oanda, noted that “the consumer looks strong heading into the holiday season” while Ed Hyman, Evercore ISI Chairman, said that supply chain problems “are likely to ease” and wages “are likely to increase, lifting consumer incomes”.

However, some analysts are less sanguine about the supply chain problems, with Tim Uy of Moody’s Analytics saying that they “will get worse before they get better”.