China News Service, November 10th. On the evening of November 10th, Beijing time, the three major indexes of U.S. stocks collectively opened higher. The US CPI in October was lower than expected, indicating that US inflation may peak.
Dow Jones Industrial Average opened 749.97 points higher, rose 2.31% to 33263.91 points; Nasdaq Comprehensive Index opened 515.99 points higher, 4.98% to 10869.17 points; S&P 500 index opened 111.32 points higher, 2.97% to 3859.89 points.
Dow Jones K-line trend Source: Wind
stock , Amazon rose more than 7%, Tesla rose nearly 7%, Google and Apple rose more than 5%. Popular Chinese stocks rose collectively, with Xiaopeng Motors rising more than 11%, JD rising more than 8%, and Alibaba rising more than 5%.
On the evening of the 10th, Beijing time, The U.S. Bureau of Labor Statistics released data showing that the US October CPI increased by 7.7% year-on-year, lower than market expectations, with the previous value of 8.2%; the U.S. October core CPI increased by 6.3% year-on-year, with the previous value of 6.6%.
In addition, the number of people applying for unemployment benefits in the United States for the first time last week was 225,000, and the previous value was 217,000.
In addition to the US stock market, after the release of US CPI data, spot gold rose in the short term and is now at $1,741.79 per ounce, up more than 2% during the day. USD index fell to 108.73, down 1.53% during the day.
European stock markets rose collectively. As of press time, Germany DAX index rose 2.66% during the day, France CAC40 index rose 1.45%, and the UK FTSE 100 index rose 0.87%.
NatWesttml1Analyst John Briggs pointed out that the market attaches great importance to CPI data, and today's data makes people speculate that US inflation has peaked and the Federal Reserve's tightening cycle is about to end.
UBS pointed out that almost all signs indicate that U.S. inflation is accelerating, but it is uncertain when the slowdown will be reflected in inflation data.
so far this year Fed has raised interest rates by 75 basis points four times in a row, and has raised interest rates by 375 basis points since the beginning of the year. Yet more and more economists say they fear the Fed will eventually slow down the economy, leading to a downturn next year. Investors are trying to determine when and at what level the U.S. interest rate peaks.
New York Fed Chairman Williams pointed out on Wednesday that the Fed will continue to work hard to restore price pressure to expected levels.
Philadelphia Fed Chairman Huck said Thursday that the Fed is expected to suspend austerity policy sometime next year. A 50 basis point rate hike is still significant. ( China News Service APP)
(The views in the article are for reference only and do not constitute investment advice. Investment is risky, so be cautious when entering the market.)
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