We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Several news items this morning are worth paying attention to today, along with a Fed report this afternoon. At that time, 2pm ET, the Federal Budget will come out. Last time around, we saw the headline at -$205 billion. We also expect a new announcement that will keep interest rates steady at 1.75%, followed by a press conference for Fed Chair Jerome Powell at 2:30pm today.
Ahead of today’s open, November Consumer Price Index (CPI) numbers have been released: +0.3% is the new headline number, up 10 basis points from the +0.2% expected but down from October’s +0.4%. Stripping out food and energy costs — aka the “core” number — we see an in-line +0.2% with expectations and previously reported.
Year over year, headline CPI tallies 2.1%, slightly above expectations but 30 basis points ahead of October’s 1.8%. Core CPI, year over year, was an as-expected 2.3%. This is more of the steady — if tepid — growth we have gotten used to over the past several years. An inflation rate of 2.1% will send no one running for the hills; we can even go back to looking at these figures as somewhat “Goldilocks” — not too hot, not too cold.
The other side of the coin, Producer Price Index (PPI), hits the tape at this time tomorrow. As with November CPI, +0.2% is currently expected, following a +0.4% print for October.
Saudi Aramcomarks its first day of public trading on the Riyadh (Saudi Arabia) stock exchange, at which time the stock grew 10% in value. The state-owned company now holds the honor of being the most highly-valued company on the face of the earth: $1.88 trillion in market cap. Capital raised on the company’s IPO surpassed the previous record, Alibaba (BABA - Free Report) , which had raised $25 billion on its IPO.
In unrelated news, but in the same integrated oil industry, Chevron (CVX - Free Report) has announced Tuesday afternoon it will take a writedown on between $10-11 billion for its Q4 earnings report, expected in late January. Shares are down only modestly on the news, as a “disciplined approach to capital allocation” is directing the decision.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
November Core CPI Data Meets Expectation
Several news items this morning are worth paying attention to today, along with a Fed report this afternoon. At that time, 2pm ET, the Federal Budget will come out. Last time around, we saw the headline at -$205 billion. We also expect a new announcement that will keep interest rates steady at 1.75%, followed by a press conference for Fed Chair Jerome Powell at 2:30pm today.
Ahead of today’s open, November Consumer Price Index (CPI) numbers have been released: +0.3% is the new headline number, up 10 basis points from the +0.2% expected but down from October’s +0.4%. Stripping out food and energy costs — aka the “core” number — we see an in-line +0.2% with expectations and previously reported.
Year over year, headline CPI tallies 2.1%, slightly above expectations but 30 basis points ahead of October’s 1.8%. Core CPI, year over year, was an as-expected 2.3%. This is more of the steady — if tepid — growth we have gotten used to over the past several years. An inflation rate of 2.1% will send no one running for the hills; we can even go back to looking at these figures as somewhat “Goldilocks” — not too hot, not too cold.
The other side of the coin, Producer Price Index (PPI), hits the tape at this time tomorrow. As with November CPI, +0.2% is currently expected, following a +0.4% print for October.
Saudi Aramcomarks its first day of public trading on the Riyadh (Saudi Arabia) stock exchange, at which time the stock grew 10% in value. The state-owned company now holds the honor of being the most highly-valued company on the face of the earth: $1.88 trillion in market cap. Capital raised on the company’s IPO surpassed the previous record, Alibaba (BABA - Free Report) , which had raised $25 billion on its IPO.
In unrelated news, but in the same integrated oil industry, Chevron (CVX - Free Report) has announced Tuesday afternoon it will take a writedown on between $10-11 billion for its Q4 earnings report, expected in late January. Shares are down only modestly on the news, as a “disciplined approach to capital allocation” is directing the decision.