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By Staff Reporters
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- The December CPI report showed 59% of its components “are now in deflation,” Fundstrat’s Tom Lee said in a Friday note. That’s good news for the stock market, as a drop in inflation will help ease financial conditions. “This is setting up 2023 to be the opposite of 2022, where inflation expectations fall faster than EPS risk,” Lee said.
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Stocks Higher as Q4 Earnings Season Begins U.S. equities ended the day and week higher, as the markets reacted to a host of results from the banking sector to kick off Q4 earnings season. Bank of America, Wells Fargo, and Dow member JPMorgan Chase all bested estimates, but each posted significant increases in provisions for loan losses, while Citigroup fell short of forecasts.
Meanwhile, Dow component UnitedHealth Group beat forecasts and reaffirmed its guidance. News on the economic front was mixed, as a read on import prices surprisingly increased, detracting some from yesterday’s tamer read on consumer prices, while consumer sentiment rose far more than what was projected.
Treasury yields were higher, and the U.S. dollar dipped, while crude oil and gold prices traded to the upside.
Asian and European stocks finished mostly higher, as investors digested inflation reports from the U.S. and abroad.
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Related: https://medicalexecutivepost.com/2022/09/14/inflation-cpi-and-the-ppi/
CITE: https://www.r2library.com/Resource/Title/0826102549
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Investing | Tagged: Consumer Price Index, CPI, DJIA, higher stock markets, inflation, NASDAQ, S&P 500, stock markets |
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Stocks ended the week with a “big-bang” yesterday, shaking off the first day of what’s expected to be a bummer of an earnings season. The S&P 500 and the NASDAQ both clinched their best weeks since November.
With investors believing that inflation is finally letting up, tech stocks like Amazon are creeping back up again. The e-commerce giant had its best week since April 2020.
Simon
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