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US Futures Mixed, European Stocks Climb
U.S. futures for the S&P 500 were down 0.1% and futures for the Dow Jones Industrial Average were flat. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.9% in morning trading. Viaplay Group Series B rose 5.6% and Ambu Series B rose 5%. On…
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Top Company News of the Day: Apple, Burberry, Gucci, Huang
Apple Directors Al Gore, James Bell to Retire The former U.S. vice president had been a board member since 2003. Burberry Cuts Guidance on Slowing Luxury Demand Burberry cut its fiscal 2024 guidance after luxury demand slowed further during December’s key trading period. The Onetime Auditor Brought In to Reinvent Gucci The new CEO is…
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U.S. Stocks Close Roughly Flat Following Closely Watched Inflation Data
After turning lower over the course of morning trading on Thursday, stocks staged a notable recovery attempt in the latter part of the session. The major averages climbed well off their worst levels of the day, eventually closing roughly flat. The Dow fell as much as 270 points but rebounded to end the day up…
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Crypto: Bitcoin Spot ETFs Debut Strongly, Circle Prepares for IPO, and More
GBTC, IBIT, and FBTC have a strong debut After years of anticipation, the Bitcoin ETFs were finally approved in the USA and started trading on Thursday. BitMex Research ranked the 11 newly launched funds by trading volume on the first day, with the ETFs from Grayscale (AMEX:GBTC), BlackRock (NASDAQ:IBIT), and Fidelity (AMEX:FBTC) leading in volume.…
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Consumer Prices Increased More Than Expected
A highly anticipated report released by the Labor Department on Thursday showed consumer prices in the U.S. increased by slightly more than expected in the month of December. The Labor Department said its consumer price index climbed by 0.3 percent in December after inching up by 0.1 percent in November. Economists had expected consumer prices…
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Futures Fluctuating Following Consumer Price Inflation Data
The major U.S. index futures have fluctuated before the start of trading on Thursday as traders digest highly anticipated U.S. consumer price inflation data. The Labor Department said its consumer price index climbed by 0.3 percent in December after inching up by 0.1 percent in November. Economists had expected consumer prices to rise by 0.2…
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Metals Prices Higher
Metal prices were trading higher with Peak Trading Research saying a weaker U.S. inflation print would point to a dovish Fed, lower interest rates and a weaker dollar. Nickel is stuck in a supply glut that will take some time to clear, BMI said, as it downgraded its forecast for 2024 to $20,000/metric ton from…
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Oil Moves Higher
Oil prices moved higher in Europe on market concerns about heightened tensions in the Middle East. U.S. and British warships shot down one of the largest barrages of missiles and drones fired by Yemen’s Houthi rebels into the crucial Red Sea shipping lane, while Secretary of State Antony Blinken continued his efforts to prevent the…
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Bond Yields Fell
Bond yields fell as investors awaited the inflation data. Some analysts have warned that the market may be too optimistic about the likely pace of Fed rate cuts given that reducing inflation further may prove harder. “Importantly, absent improvements on the supply side, the outlook for continued disinflation to 2% is likely to get trickier…
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Inflation Data Likely To Be Key To Dollar Outlook
Thursday’s inflation data will likely be key to determining the near-term outlook for the dollar and U.S. rates, though it won’t be a “game-changer,” Danske Bank Research said. “We do not expect today’s CPI release to be a game-changer, as we think the figures broadly will align with consensus.” The relatively loose financial conditions around…