CNBC Daily Open: The good and the bad of the U.S. CPI — nothing seems ugly
Publishing timestamp: 2023-12-12 18:53:53
Summary
The U.S. consumer price index increased by 0.1% in November, which was higher than expected. However, the yearly rate is still lower than the previous month. U.S. stocks closed higher, but Europe's Stoxx 600 lost ground. Respondents to a CNBC Fed Survey predict that the Federal Reserve will slash rates next year, with the first cut expected in June. OpenAI's revenue from its nonprofit operation in 2022 was $44,485. Evercore ISI predicts a big pullback in the S&P 500 in the first half of 2024. The CPI report for November was in line with expectations, but the month-over-month figure was not as good as hoped. Despite this, stocks rose, possibly due to falling oil prices. The attention now turns to the Federal Reserve's last rate-setting meeting for the year.
Sentiment: MIXED
Tickers: .SPX, XOM, .DJI, SCHW, .IXIC,
Keywords: economic events, oil and gas, nasdaq composite, consumer prices, exxon mobil corp, technology, markets, charles schwab corp, united states, business news, prices, world markets, inflation, dow jones industrial average, s&p 500 index,
Source: https://www.cnbc.com/2023/12/13/stock-markets-the-good-and-the-bad-of-the-us-cpi.html