U.S. inflation rose slightly in October, with the personal consumption expenditures price index increasing by 0.2% month-over-month and 2.3% year-over-year. Despite a dip in U.S. stock markets, investors remain optimistic, with many stocks above their 200-day moving average, indicating a solid market trend. Meanwhile, South Korea unexpectedly cut interest rates amid disappointing economic growth, and forecasts suggest the offshore yuan may hit a record low against the dollar by 2025.
U.S. inflation rose slightly in October, with the personal consumption expenditures price index increasing by 0.2% month-over-month and 2.3% year-over-year, while core inflation hit 2.8%. Despite a dip in U.S. stock markets, investors remain optimistic, with many betting on a potential rate cut by the Federal Reserve in December. The market shows resilience, as over three-quarters of S&P stocks are above their 200-day moving average, indicating a solid upward trend.
Asia markets opened mixed following a stall in Wall Street's rally, with attention on the Bank of Korea's upcoming rate decision. U.S. inflation data aligns with the Federal Reserve's goals, suggesting stability in employment and prices, while the S&P 500's strong moving averages indicate solid market internals despite a slight downturn. Analysts are also exploring opportunities in international markets, citing U.S. stocks as relatively expensive.
Dan Clifton, a leading Washington analyst and partner at Strategas, discusses potential stock beneficiaries in the wake of Trump's anticipated next term. In a conversation with CNBC’s Dominic Chu, Clifton explores the implications for various businesses and addresses stock-specific inquiries from Pro subscribers.
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