Shares of work management software maker Asana (NYSEASAN)
jumped 9% in the morning session as the major indices soared (Nasdaq +1.9%, S&P 500 +1.6%) after the Bureau of Labor Statistics reported that core CPI (Consumer Price Index - a measure of inflation which strips out volatile food and energy prices) for December 2024 came in better than expected, rising 3.2% year over year, compared to the consensus estimate for a 3.3% increase. This means that PPI and CPI both came in slightly below expectations. It is important because the results take additional rate hikes off the table, which some investors and market participants were beginning to whisper about.
Shares of social network Snapchat (NYSESNAP)
jumped 7.8% in the morning session after the major indices soared (Nasdaq +1.9%, S&P 500 +1.6%) after the Bureau of Labor Statistics reported that core CPI (Consumer Price Index - a measure of inflation which strips out volatile food and energy prices) for December 2024 came in better than expected, rising 3.2% year over year, compared to the consensus estimate for a 3.3% increase. This means that PPI and CPI both came in slightly below expectations. It is important because the results take additional rate hikes off the table, which some investors and market participants were beginning to whisper about.
Consumer spending will play a large role in the economy in 2025, driven by employment growth, wage gains in excess of inflation, and accumulated savings and investments.
In response to the 2008 stock market and real estate crash, the Federal Reserve stimulated the economy by reducing interest rates to (almost) zero under its ZIRP – Zero Interest Rate Policy.
Shares of online community and discussion platform Reddit (NYSERDDT) jumped 7.8% in the morning session after the major indices soared (Nasdaq +1.9%, S&P 500 +1.6%) after the Bureau of Labor Statistics reported that core CPI (Consumer Price Index - a measure of inflation which strips out volatile food and energy prices) for December 2024 came in better than expected, rising 3.2% year over year, compared to the consensus estimate for a 3.3% increase. This means that PPI and CPI both came in slightly below expectations. It is important because the results take additional rate hikes off the table, which some investors and market participants were beginning to whisper about.
Core CPI, which excludes food and energy, rose 0.2% in December after increasing 0.3% in each of the previous four months. The index rose 3.2% over the last 12 months, lower than an expected 3.3% rise.
Given that a strong consumer and a resilient labor market have defined much of 2024, analysts are looking closely at loan growth, credit quality, and net interest margins across the banking sector.
Yesterday, the overall market received support from a Bloomberg report that President-elect Trump’s economic team is considering a gradual increase in trade tariffs.
The AUD/USD pair climbed to 0.6192 midweek, reflecting cautious optimism in the market. Traders remain vigilant ahead of key December inflation data from the US.
Japanese bond yields rise, causing concerns for global markets. Analysts divided on potential crash, but eyes are on Japan as they balance inflation and growth.
The Fed's Beige Book reported moderate economic growth, strong holiday sales, and rising wages, but concerns over immigration and tariff policies loom. Markets showed little reaction.
Uber shares are trading higher by 3.1% during Wednesday's session. The December inflation report has reduced concerns about the Federal Reserve's aggressive stance on interest rates.
Marvell Technology shares are trading higher by 1.4% during Wednesday's session. The stock is higher amid the broader market's positive reaction to December inflation data.
The management of exchange rates in the business and professional sectors has gained increasing relevance in a globalized environment. Accessing reliable and up-to-date information is essential for financial and international trade operations.
