EUR/USD 1.15422
0.122%
Gold 4044.57
-0.802%
Oil 58.249
-0.765%
USD/JPY 157.055
-0.256%
GBP/USD 1.30951
0.174%
GBP/JPY 205.668
-0.074%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 21st, MarketPulse analyst Christian Norman stated that the better-than-expected US non-farm payroll data for September reinforced the Federal Reserves tendency to postpone interest rate cuts. However, a core question now exists in the market: how can the Fed guarantee making the right decisions in the absence of data? Therefore, although a high-interest-rate environment should be bearish for gold, there are signs that the market is beginning to view gold as a hedge against "policy mistakes." If the Fed decides to hold rates steady in December, but subsequent data proves that not cutting rates was a mistake, it could very well shake market confidence in the dollar. In contrast, gold has become a more reliable "safe haven." While this is currently only a secondary logic, it could indeed provide some support for gold prices, as it reflects a decline in market confidence in the Feds ability to accurately control the economy (in the absence of complete information).On November 21, Intel CEO Chen Liwu denied rumors that newly hired executive Luo Weiren had stolen confidential information from TSMC. Luo, 75, retired from TSMC in July after leading the companys research and development. "This is pure rumor and speculation, completely unfounded. We respect intellectual property rights," Chen told Bloomberg in an interview on Thursday during a semiconductor industry association event in San Jose. The event presented TSMC Chairman and President Wei Zhejia and former Chairman Liu Deyin with the industrys highest honor, the Robert Noyce Award. TSMC has not commented on the matter, and Luo has not responded.Foxconn Chairman Liu Yangwei: The Model A electric vehicle was designed by Japanese engineers and will eventually be produced in Japan.According to the French newspaper Les Echos, Renault will lower its target for electric vehicle charging stations.Hong Kong-listed Shanghai Auntie (02589.HK) surged in the afternoon, currently up over 13.5%.

S&P 500 Gains Ground Ahead Of CPI Data

Jimmy Khan

Dec 13, 2022 17:11


At the beginning of the week, stocks rise

As traders got ready for tomorrow's CPI report, the S&P 500 crept closer to the 3960 mark. The tech-heavy NASDAQ Composite was up by 0.35% in the meanwhile.


Energy stock rebounds are the main factor today. WTI oil was able to surpass the $73 mark as markets concentrated on the Keystone pipeline interruption. In today's trading, APA Corporation, EQT Corporation, and Schlumberger are all up 3–4%.


Even while Treasury yields have increased, tech stocks are also increasing. Although Microsoft is up approximately 2% today, the recovery in tech equities is mainly among the companies with smaller market capitalization.


As traders continue to be concerned about declining demand for the company's products, Tesla is among the worst losers today. Currently, Tesla stock is attempting to hit the $166 level, which marks the yearly lows.


The fact that the CPI report is being issued tomorrow before the Fed Interest Rate Decision suggests that it will have a significant effect on the market. Analysts anticipate that November's inflation rate will drop from 7.7% in October to 7.3%. Data on inflation will have a significant impact on the market, and traders should be ready for quick changes.

Suggestion