Source - SMW
Wall Street made a downbeat start to the day on a mix of tax, inflation and geopolitical concerns, while unemployment claims were said to be on the rise.

Shortly after the open, the Dow was down 0.55% at 23,433.69, the S&P 500 by 0.6% at 2,578.79 and the Nasdaq by 1.02% at 6,719.54.

European markets were also lower. The FTSE 100 was down 0.65%, the DAX was off by 1.3% and the CAC 40 by 1.04%.

COMMODITIES

WTI was 0.28% higher at $56.97 a barrel and Brent crude was up 0.13% at $63.57.

In the precious metals space, gold was 0.07% firmer at $1,284.6 an ounce but silver was down 1.01%.

Meanwhile, copper was 0.97% lower.

ECONOMIC NEWS

US initial unemployment claims rose to 239k in the week ending 4 November, an increase of 10k on the previous week's unrevised level of 229k, the Department of Labor said today.

In addition, traders will be keeping an eye on today's final wholesale inventories data and the latest Federal budget balance reading.