Beat the street: traders eye CPI, big US bank earnings, Bitcoin; Boeing; HPE-Juniper
Investors brace for CPI, bank earnings, more Treasury supply. Boeing CEO admits error, says 'mid-air blowout' can never happen again. Bitcoin-SEC mystery. Hewlett Packard Enterprise to buy Juniper Networks in a $14 billion deal.
(AI Video Summary)
Investors brace for CPI figure
In today's edition of "Beat the street", the presenter, Angeline Ong, talks about several interesting topics that can help you understand what's happening in the trading world. She starts by mentioning that the US stock market is being a bit cautious right now. The Dow Jones and the S&P 500 have declined a little because Treasury yields have increased. People are eagerly waiting to see if there will be a rate cut soon, and they are paying close attention to important indicators like the Consumer Price Index (CPI).
CPI analysis with Chris Vecchio
The video then introduces Chris Vecchio in New York, who shares his thoughts on the CPI figure. He believes that inflation readings might go up slightly, but he also mentions that Federal Reserve officials should feel more comfortable with the data in the next six months. He even predicts that the inflation rate might reach 2% by the March Federal Reserve meeting. Vecchio explains how bond auctions can give us clues about how the market views the inflation data.
US banks earnings reports
Next, Ong talks about the upcoming earnings reports from major US banks. She mentions that financials may not perform as well in the fourth quarter, but there might be some improvement in asset books due to lower Treasury yields. However, net interest margins might face some difficulties. Ong predicts that bigger banks like Citi and JPMorgan should do well, but smaller regional banks might continue to face challenges.
Daily news updates
Ong also covers other interesting topics like the recent error in Boeing's mid-air accident and the acquisition of Juniper Networks by Hewlett Packard Enterprise in a $14 billion deal. She also talks about the potential approval of spot Bitcoin exchange-traded funds by the SEC, the performance of the Nikkei 225, the launch of a new version of Tesla's Model 3, and changes in the market share among global auto companies.
Oil volatility
Lastly, Ong briefly mentions the volatility in the oil market, pointing out factors like geopolitical concerns and the increasing US output. She ends the video by providing a mixed outlook for Wall Street. Investors are preparing for the CPI figure and the upcoming earnings reports from US banks, so it's a bit uncertain how things will go.
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