Economic & Corporate News

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Samiat

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Nov 12, 2024
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Economic & Corporate News​

Inflation Data on the Horizon
Investors are bracing for critical inflation data:

  • Producer Price Index (PPI): Scheduled for release Tuesday.
  • Consumer Price Index (CPI): Expected Wednesday, with forecasts indicating a 0.3% monthly increase and a 2.9% annual rise in December.
  • The Federal Reserve's Beige Book on economic activity will also be released Wednesday, likely influencing policy outlooks.
Fed Survey Highlights Inflation Expectations

  • U.S. consumers' median one-year inflation expectations held steady at 3% in December.
  • Three-year expectations rose to 3% from 2.6%, while five-year expectations dropped to 2.7% from 2.9%.
Corporate Earnings in Focus
This week marks the start of earnings season for major banks, with results expected from:

  • JPMorgan Chase, Bank of America, Wells Fargo, Morgan Stanley, Goldman Sachs, and Citigroup.
Mergers and Acquisitions:

  • Johnson & Johnsonannounced plans to acquire Intra-Cellular Therapies for $14.6 billion in cash to bolster its neuroscience portfolio.
    • Johnson & Johnson shares rose 1.7%, while Intra-Cellular surged 34%.
Energy and Commodities Update:

  • Oil: West Texas Intermediate (WTI) crude rose 2.7% to $78.67 per barrel, driven by expanded U.S. sanctions on Russian oil, impacting supplies for India and China.
  • Gold: Dropped 1.3% to $2,679.70 per troy ounce.
  • Silver: Declined 3.4% to $30.26 per ounce.
 
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