CNBC Daily Open: Hawkish Fed? Hot PPI? Investors shrugged
Publishing timestamp: 2023-10-12 02:00:01
Summary
Federal Reserve officials were divided on the necessity of additional interest rate increases, but agreed that policy should remain restrictive. U.S. markets rose for the fourth consecutive session, while Asian markets also climbed. China's sovereign wealth fund increased its stake in the country's "Big Four" banks. Exxon Mobil agreed to buy Pioneer Natural Resources for $59.5 billion. Morningstar views semiconductor stocks as undervalued. The Fed's minutes and a hotter-than-expected PPI report could impact future rate hikes. Despite this, investors remain optimistic and continue to buy stocks.
Sentiment: MIXED
Tickers: .DJI, .SPX, PXD, XOM, .IXIC,
Keywords: producer prices, china, prices, exxon mobil corp, s&p 500 index, dow jones industrial average, india, inflation, interest rates, nasdaq composite, world markets, business news, united states, oil and gas, pioneer natural resources co, markets, federal reserve bank,
Source: https://www.cnbc.com/2023/10/12/stock-markets-hawkish-fed-hot-ppi-investors-shrugged.html