annual inflation rate, and Eurozone November annual inflation rate revised lower. Euro Stoxx 50 Index up +0.20% with gains in mining and energy stocks. U.S. Treasury 10-year note yield at 4.170%, up +0.51%. Trump orders blockade of Venezuelan tankers, oil prices rise over +2%. Fed officials speak, earnings reports awaited. Today’s economic data revealed mixed results, with the U.K. November CPI and Core CPI both weaker than expected. Germany’s Ifo Business Climate Index fell short of expectations, while Eurozone’s CPI and Core CPI were mostly in line with forecasts. Asian stock markets closed higher, with China’s SHCOMP and Japan’s NIK both up.
China’s SHCOMP surged on strong performance in technology stocks, led by MetaX Integrated Circuits. Japanese Nikkei 225 rebounded, driven by gains in tech and financial sectors. Japan’s exports rose for the third consecutive month in November, signaling economic resilience. The BOJ is expected to raise rates, reflecting economic strength despite tariff concerns.
Japanese trade balance exceeded expectations in November, with exports outperforming forecasts. Core Machinery Orders also beat expectations, showing a strong +7.0% m/m and +12.5% y/y jump in October. Pre-market U.S. stock movers include energy stocks and Amazon (AMZN) up over +1%, while Netflix (NFLX) and Airbnb (ABNB) also see gains. Lennar (LEN) slides over -3% after posting weak earnings.
Today’s U.S. earnings spotlight features Micron (MU), General Mills (GIS), Jabil Circuit (JBL), and other companies reporting results. No positions in mentioned securities. All information is for informational purposes only. Published originally on Barchart.com. 1. The stock market experienced a sharp decline today, with the Dow Jones Industrial Average falling by over 500 points. This drop was attributed to concerns over rising inflation and interest rates, causing investors to sell off their shares.
2. The United Nations released a report stating that climate change is accelerating at an alarming rate, with temperatures expected to rise by 2.7 degrees Fahrenheit by the end of the century. This news highlights the urgent need for global action to combat climate change.
3. A new study found that the COVID-19 vaccine is highly effective in preventing hospitalizations and deaths caused by the virus. The study showed that vaccinated individuals were 95% less likely to be hospitalized and 99% less likely to die from COVID-19 compared to unvaccinated individuals.
4. The FDA approved a new drug for the treatment of Alzheimer’s disease, the first new drug approved for the condition in nearly 20 years. The drug, called Aduhelm, has shown promising results in slowing the progression of the disease in clinical trials.
5. The US economy added 559,000 jobs in May, surpassing economists’ expectations. This increase in job growth is a positive sign of the economy’s recovery from the impact of the COVID-19 pandemic. The unemployment rate also dropped to 5.8% as more Americans returned to work.
Read more at Yahoo Finance: S&P Futures Gain as Investors Weigh U.S. Jobs Data, Fed Speak and Micron Earnings in Focus