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Japan’s inflation rate fell to 2.6% in December, core inflation rate stable
Japan’s headline inflation Interest rates in December fell to 2.6% from 2.8% in November, the lowest level since June 2022.
Japan’s core inflation rate, which excludes fresh food prices, was also 2.3%, down from 2.5% in November and in line with economists’ forecasts compiled by Reuters.
The so-called “core-core” inflation rate, which subtracts the prices of fresh food and energy, which is closely monitored by the Bank of Japan, was 3.7%, slightly down from November’s 3.8%.
— Lim Huijie
1 hour ago
CNBC Pro: Here’s Morgan Stanley’s ‘conviction list’ of the world’s highest dividend stocks
7 hours ago
Among the 18 S&P 500 companies, AMD, Nvidia, Boston Scientific, and Domino’s Pizza hit new highs.
Chipmakers Advanced Micro Devices and Nvidia are among the S&P 500 stocks that hit 52-week highs on Thursday. AMD stock traded at its highest level since the company’s IPO in September 1972, while Nvidia stock was at its highest level since January 1999. Other technology and software companies, big names in the industry, and some hotel chains also reached new highs.
Here are some of the names that hit all-time highs.
Stocks in the broad market index that hit new 52-week lows include Devon Energy, Exxon Mobil and Humana.
— Pia Singh, Christopher Hayes
1 hour ago
CNBC Pro: BBYD More: AllianceBernstein names Asia’s top stocks for next six months, giving one stock more than 60% upside potential
Several sectors and stocks in the Asia-Pacific region are “particularly attractive at the moment,” AllianceBernstein said.
Wall Street Bank analysts listed these stocks as their “Top Picks for the Next Six Months” in Asia, stating that these stocks are “highly ranked on a quantitative basis and Bernstein analysts have a very positive view on them.” “Our company is doing the same thing.”
CNBC Pro subscribers can read more here.
— Amara Balakrishna
4 hours ago
Oil rises due to demand forecast, US withdrawal from crude oil
Oil prices rose on Thursday on solid demand growth forecasts for 2024 and the withdrawal of large U.S. crude oil inventories.
West Texas Intermediate futures rose $1.52. or 2.09%, settling at $74.08 per barrel. Brent futures for March contract rose $1.22 (1.57%) to settle at $79.10 per barrel.
The International Energy Agency predicts oil demand will increase by 1.2 million barrels per day in 2024, while OPEC puts the figure at 1.8 million barrels per day.
The United States also pulled down 2.5 million barrels of crude oil inventories in the week ending January 12, more than expected.
— Spencer Kimball
12 hours ago
Apple stock rises after BofA upgrade
Apple shares rose more than 1% premarket after the tech giant received a rating upgrade from Bank of America. The bank also said it sees room for growth of more than 20% in the future.
“We are upgrading Apple to a neutral purchase, taking into account: 1) the need for modern hardware to enable Generative AI capabilities that will be introduced in 2024/2025, resulting in a multi-year “The iPhone upgrade cycle will be strengthened (the majority of the installed base is still on iPhone 11), 2) Apple will improve the monetization of its installed base, which will increase service growth,” BofA said.
11 hours ago
Weekly unemployment claims after unexpected decline
New jobless claims fell sharply last week in an unexpected move that shows the labor market remains tight.
The Labor Department said Thursday that 187,000 new jobless claims were filed for the week ending Jan. 13, down 16,000 from the previous quarter and below the Dow Jones Industrial Average’s estimate of 208,000. .
The number of continued applications delayed by one week fell by 26,000 to 1.806 million, lower than FactSet’s estimate of 1.83 million.
—Jeff Cox