Newscasts - US Markets Briefing: Dow rises after inflation in the US accelerates

Foxconn Technology

13/11/2024 20:00

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Source: 'Reuters - Business videos'

Description: The Dow Jones inched higher on Wednesday as investors look to
keep a postelection rally going after a key inflation report was in line with
expectations.
Short Link: https://refini.tv/3Cspu50

Video Transcript:

The Dow rises after inflation in the US accelerates. Welcome to your US
Markets Briefing. I'm Ludovica Brignola. The Dow Jones inched higher on
Wednesday as investors look to keep a post-election rally going after a key
inflation report was in line with expectations. The October Consumer Price
Index accelerated a bit to a 2.6% annual rate.


So, with our continued view that inflation will continue to moderate in the
months ahead, we will keep a pretty close eye on the labor market,
specifically payrolls when they come out. We just want to make sure that it
doesn't get to be too hot, such that the Fed might be concerned about wage
growth accelerating too fast and could lead to a rebound of inflation.


Let's take a look at tomorrow now and US October Producer Price Index is also
set to come out. Annually, the PPI is expected to have risen 2.3% in the month
of October after rising 1.8% in the previous month. PPI for October is
expected to rise 0.2% on a monthly basis while core PPI is expected to have
increased 3% annually after increasing 2.8% last month. Initial and continuing
jobless claims will also be published tomorrow, and initial claims for the
week ending November 9 probably climbed to 223,000 from 221,000 in the week
before. And let's take a look at earnings tomorrow and there will be a focus
on chip makers. Applied Materials is expected to report higher fourth quarter
revenue on Thursday, helped by growing demand for chipmaking equipment as
customers are investing in AI powered chips. Apple supplier Foxconn is also
expected to report third quarter earnings. Walt Disney is expected to report a
rise in fourth quarter revenue, helped by strong subscriber additions from its
streaming platform. And JD.com is expected to post a jump in third quarter
revenue, that's as the e-commerce retailer doles out discounts on its platform
to attract consumers who have been spending cautiously due to economic
uncertainties. The company's commentary on competitive pressure, consumer
health, and outlook for Singles Days sales will be on top of mind for
investors. And finally, in look at oil as well, which has been holding near
two-month lows after OPEC downgraded its forecast for global oil demand growth
in 2024 and 2025 amid demand concerns in China. Tomorrow it’s the
International Energy Agency’s turn to publish its monthly analysis of
supply and demand in the global oil market. Well, that's your US Markets
Briefing