Peaks in inflation – and on Wall Street; Oil is on its sharpest weekly rise since August

Ongoing reporting from the world’s leading markets: important updates, prominent stocks, bonds and analyst updates

23:00 – The high inflation rate in November did not deter investors in New York, and indices closed higher. S&P 500 rose 1% and set a new record, Dow Jones climbed 0.6%, and Nasdaq jumped 0.7%. In weekly summary: Nasdaq jumped 3.6%, S&P 500 – 3.8% , Sure Jones – at 4%.

22:15 – The price of WTI crude oil rose 0.6% today to $ 71.3 a barrel. Brent climbed 0.5 percent to $ 74.8 a barrel. In weekly summary, the WTI jumped 8%, the sharpest weekly rise since the week ending August 27th. Brent jumped 7%, also the sharpest jump since the end of August.

20:45 – Gold rose 0.5% ($ 8.10) today to $ 1,784.80 an ounce. In the background, a daily decline in the dollar against major currencies. In a weekly summary, the value of the precious metal climbed by 0.1%.

19:55 – Shares of the AMC cinema chain fall 9% after the publication of an affidavit filed by the company to the US Securities and Exchange Commission (SEC), according to which CEO Adam Aron recently sold 312,500 AMC shares worth $ 9.65 million. Sean Goodman sold 18,000 shares for the funds. As early as November, the CEO announced that he might sell shares of the company.

19:15 – Musk is not alone: ​​jump in the number of billionaires who sold shares in their companies in 2021: According to the Wall Street Journal, executives of companies included in the S&P 500 sold their shares At a record $ 63.5 billion Since the beginning of the year, a jump of 50% compared to 2020. Among the reasons for this – the Biden administration intends to raise the tax on the rich.

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Alon Musk Founder and CEO of Tesla

(Photo: Getty )

18:50 – European stock markets fell slightly daily: the German DAX was down 0.1%, the British Potassium was down 0.4%, and the CAC was down 0.2%.

In a weekly summary: the Frankfurt Stock Exchange climbed 3%, London rose 2.4%, Paris rose 3.3%.

18:15 – New York stock exchanges erased early gains – the Dow Jones and Nasdaq even moved to slight declines.

17:15 – Slight optimism: The University of Michigan’s consumer sentiment index rose in December to a reading of 70.4 points from 67.4 points in November. The market expectation was for an increase to a reading of 68 points. This is still a significantly lower rate than February 2020, the pre-corona period on the economy, when the index stood at 101 points.

In December, Americans expect inflation (in the consumer price index) in core products (excluding food and energy) at a rate similar to November – 4.9% at an annual rate.

16:30 – Rises on Wall Street despite the jump in inflation: The Dow Jones industrial average is up 0.5%, the S&P 500 is up 0.8% and the Nasdaq is up 1%.

After the reports – Oracle jumps by 20%, Broadcom jumps by 7.5%, Chavey is cut by 6%. Even in the opening – Modern falls by 12%.

15:40 – Sharp rise in the US consumer price index at the sharp annual rate since 1982: 6.8% increase in November since the corresponding month last year. The market expected an increase of 6.7% at an annual rate.

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Jerome Powell Chairman of the Federal Reserve

(Photo: AP)

13:55 – Getty Images announced today (Friday) that it intends to go public through a merger with CC Neuberger Principal Holdings. At a value of $ 4.8 billion. This is according to a report in Bloomberg and MarketWatch. Sisi Neuberger shares, which began trading in September 2020, are up 2.1% in early trading. Under the agreement between the companies, they are interested in raising $ 1.2 billion to be used to pay off existing debts and stabilize Getty’s balance sheet.

Getty, formed 26 years ago, initially preferred a traditional initial public offering (IPO) before choosing CC Neuberger, which would invest $ 600 million in the deal, CEO Craig Peters said in an interview. Of 2022 – Getty will be listed on the New York Stock Exchange (NYSE) under the symbol GETY. Peters, who joined it in 2007 and was named CEO in 2019, will continue to lead.

11:50 – Futures on leading New York stock exchanges rise today (Friday) ahead of the release of the consumer price index that is expected to record the sharp rise in decades, which could add pressure on Federal Reserve policymakers to reduce incidental purchases ahead of their meeting next week. Contracts for the Dow Jones, S&P 500 and NASDAQ are currently up 0.3%.

Wall Street investors are keeping an eye on the consumer price index for November, which is expected to rise 6.7% year-on-year, according to a survey of economists by the Wall Street Journal and Dow Jones Newswire. If so, the index will look like this – this will be the sharp rise in it since the 1980s. More data in focus today – the initial reading of the University of Michigan’s consumer sentiment for December as well as the federal budget for November.

Shares in Focus – Oracle shares soared 11% in early trading, after the technology giant released financial results for the second fiscal quarter that beat early forecasts. Broadcom shares are up 6.4% in early trading, after the software and chips company announced a plan to pay shareholders in light of earnings. Shares of Chewy cut 10% pre-trade after the online retailer of food and pet products reported its fiscal third quarter results last night.

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Federal Reserve Chairman Jerome Powell testified in the Senate

(Getty)

11:00 – Trading in Europe’s leading stock markets is declining today (Friday), as investors fear the consequences of the spread of omicrons and are keeping an eye on inflation data to be released today in the US. Asian markets closed down – the Japanese Nikkei weakened 1%, the Hong Kong Hong Kong index fell 1.1% and the Chinese Shanghai index fell 0.2%.

Information released yesterday (Thursday) shows that unemployment claims in the US have dropped to their lowest level since 1969 last week, when 184,000 people filled out new applications for unemployment benefits.

A number of important macro data are expected to be released in Europe today: Industrial production in the UK, Ireland and Spain for October. The British growth data, industrial output, construction output and trade balance in the country will also be published. More on the topic today – Germany’s latest inflation figure for November. The president of the European Central Bank, Christine Lagard, is expected to speak today, as will other policy makers on the continent.

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Christine Lagard, President of the European Central Bank

(Getty)

8:30 – Trading on the leading stock exchanges in Asia is declining this morning (Friday), following the red lock last night on Wall Street. Investors are awaiting U.S. inflation data that may influence the Fed’s decision on restoring economic incentives.

Investors are awaiting the November US Consumer Price Index. Federal Reserve officials, scheduled to meet next week, said earlier they were ready to take action to cool inflation if necessary, after it peaked at 30 years in October. “Investors are taking risks off the table. “While they wait for the information,” said Yep John Rong, an analyst at IG.

The Shanghai Shanghai index is currently down 0.4%, the Nikkei is down 1% on the Tokyo Stock Exchange, and the Hang Seng is down 0.7% from its value on the Hong Kong Stock Exchange.

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Tokyo Stock Exchange

(Bloomberg)

Last night the trading on Wall Street closed in a mostly negative trend, With the Dow Jones closing near the starting point, NASDAQ lost 1.7% to its lowest level this week and the S&P 500 lost 0.7% of its value, interrupting a three-day streak of gains. Investors are waiting for inflation data to be released today (Friday) in the US B. Pfizer rose 1.3% after the FDA approved the third booster dose for ages 17-16, while competitor Modern lost 4%. Boeing weakened by 1.6%.

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