(Bloomberg) — Stocks, bonds and the dollar were subdued as investors awaited Thursday’s inflation data for clues about the U.S. Federal Reserve’s outlook.
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The S&P500 rose slightly. The yield on the US 10-year bond is hovering around 4%. Bitcoin was trading at around $45,000 before the U.S. Securities and Exchange Commission decided to approve exchange-traded funds to hold digital assets. An unexpected increase in U.S. stockpiles has eased the threat to supplies from red sea escalation, sending oil prices soaring. European bond sales this week hit a record high of more than 108 billion euros ($118 billion).
With inflation expected to end the year near the Fed’s 2% target, future consumer price indexes will likely exhibit a disinflationary trend. Prior to that, New York Fed President John Williams is scheduled to speak.
“We see a plausible path forward for inflation to continue to ease moderately, for the Fed to end its rate hikes, and for economic growth to accelerate again in the second half of 2024,” said Arthur Hogan of B. Riley Wealth. Ta.
Company highlights:
As Bank of America, JPMorgan Chase & Co., Citigroup and Wells Fargo begin reporting fourth-quarter industry results on Friday, the results show net interest margins feeling continued pressure from increased funding. This is likely to indicate that It costs money.
Boeing Chief Executive Dave Calhoun said the company must admit its shortcomings as it grapples with safety incidents that have raised new questions about its manufacturing quality.
Hewlett Packard Enterprise Co.’s agreement to buy Juniper Networks Inc. for $14 billion to expand its network presence has sparked skepticism from Wall Street.
This week’s main events:
US CPI, new unemployment claims, Thursday
China CPI, PPI, Trade, Friday
UK industrial production, Friday
US PPI, Friday
Some of the largest U.S. banks will release fourth-quarter financial results on Friday.
Minneapolis Fed President Neel Kashkari speaks on Friday
ECB Chief Economist Philip Lane speaks on Friday
The main movements in the market are:
stock
As of 12:59 p.m. New York time, the S&P 500 was up 0.3%.
Nasdaq 100 rose 0.5%
The Dow Jones Industrial Average rose 0.2%.
MSCI World Index rose 0.2%
currency
Bloomberg Dollar Spot Index little changed
The euro rose 0.3% to $1.0967.
Sterling rose 0.2% to $1.2734.
The Japanese yen fell 0.8% to 145.60 yen to the dollar.
cryptocurrency
Bitcoin rises 2.2% to $46,439.12
Ether rose 5.4% to $2,441.6
bond
The 10-year government bond yield was almost unchanged at 4.02%.
Germany’s 10-year bond yield rose 2 basis points to 2.21%.
The UK 10-year bond yield rose 4 basis points to 3.82%.
merchandise
West Texas Intermediate crude oil fell 1.4% to $71.20 a barrel.
Spot gold fell 0.3% to $2,024.14 an ounce.
This article was produced in partnership with Bloomberg Automation.
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