CNBC Daily Open: U.S. stocks don't seem bothered by inflation, ignore jump in retail sales
Publishing timestamp: 2023-02-16 01:23:13
Summary
US retail sales and industrial production beat expectations in January, causing stocks to rise. Asia-Pacific markets also rose, with Bitcoin reaching its highest since August 2022. Analysts are now scrutinizing the relationship between Indian tycoon Gautam Adani and Prime Minister Narendra Modi. Charlie Munger called Chinese electric vehicle maker BYD his favorite stock ever, while Berkshire Hathaway dumped almost 86% of its TSMC shares. Investors are not concerned about inflation and higher interest rates, and the strength in the US economy is translating into gains in markets. Economists and investors are reconsidering the effect of interest rates, and some are predicting that the Federal Reserve might raise rates higher than 6%.
Sentiment: POSITIVE
Tickers: BTC.CB=, TSLA, JPM, BRK.A, ZE594-CN, 2330-TW, ADANIENT-IN, TSM,
Keywords: u.s. economy, retail industry, bitcoin, byd co ltd, narendra modi, business news, japan, charlie munger, china, bitcoin/usd coinbase, inflation, markets, berkshire hathaway inc, jpmorgan chase & co, taiwan semiconductor manufacturing co ltd, economic events, tesla inc, autos, interest rates, united states, india, world markets,
Source: https://www.cnbc.com/2023/02/16/stock-markets-us-stocks-dont-seem-bothered-by-inflation.html