Asia-Pacific markets rise on cooler inflation print, ahead of Fed rate decision

Dollar falls on inflation data

The dollar index, which weighs the U.S. dollar among a basket of foreign currencies, dropped following the cooler-than-expected CPI data. It was last down 1.4%.

The dollar declined as expectations for inflation eased on the report, while Treasury rates tumbled at the same time. Meanwhile, gold and oil prices both rose.

The falling greenback could help multinational stocks with business oversees. Caterpillar and Boeing both rose in premarket trading, adding 2% and 3%, respectively.

— Alex Harring

CNBC Pro: Dan Niles is positive on this corner of tech, names two global stocks to buy

Dan Niles, founder and senior portfolio manager of the Satori Fund, told CNBC that he recently bought these tech stocks, and explained why he likes them.

According to Niles, the Satori Fund is up this year, beating the S&P 500 which has declined around 15% over the same period.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Inflation rise less than expected in November

The consumer price index, a widely followed measure of inflation, rose less than expected in November, raising hope that inflationary pressures in the U.S. could be abating.

The index rose 7.1% year over year, less than a Dow Jones estimate for a 7.3% gain. Excluding food and energy, prices rose 6% on a year-over-year basis, less than an estimate for 6.1%.

— Jeff Cox

CNBC Pro: Morgan Stanley’s Mike Wilson says his S&P 500 call is more bearish than most

Morgan Stanley Chief U.S. Equity Strategist Mike Wilson, who accurately called the 2022 sell-off, reiterated his call on the bear market bottom and said he was even more confident of his forecasts now.

Wilson, a prominent market bear this year, explained his reasoning in his latest report to clients on Dec. 12.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Source link

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *