CNBC Daily Open: Inflation mission accomplished?
Publishing timestamp: 2023-12-26 02:30:01
Summary
The U.S. core personal consumption expenditures price index rose 0.1% for November, indicating that the Federal Reserve has essentially reached its inflation goal. U.S. stocks had their eighth consecutive winning week, while Asia-Pacific markets dipped after the Christmas holiday. Tencent and NetEase saw their shares sink after China announced surprise rules aimed at curbing excessive gaming and spending. Soft commodities like orange juice, cocoa, coffee, and sugar are posting record rallies due to extreme weather and supply concerns related to El Nino. Bitcoin is expected to experience a "halving" event in April 2024, which could potentially boost its prices. Despite positive PCE numbers, markets were not overly excited. The S&P 500 and Nasdaq Composite had modest gains, while the Dow Jones Industrial Average edged down due to Nike lowering its revenue expectations. Overall, the major U.S. indexes celebrated their eighth positive week in a row, with small-cap stocks showing strength.
Sentiment: MIXED
Tickers: 9999-HK, .FTSE, .RUT, .IXIC, BTC.CB=, .SPX, .DJI, 700-HK, .HSI, NKE, .RUA,
Keywords: netease inc, nasdaq composite, hang seng index, ftse 100, world markets, prices, commodity markets, nike inc, united states, tencent holdings ltd, inflation, markets, s&p 500 index, technology, economic events, bitcoin/usd coinbase, dow jones industrial average, business news, russell 2000 index,
Source: https://www.cnbc.com/2023/12/26/stock-markets-inflation-mission-accomplished.html