Beat the street: will this week's CPI and PPI print derail interest-rate cuts?
US CPI and PPI data will be key for investors seeking more clues as the when the Fed might cut rates. Tesla scraps its low-cost car plans and lays out its 'Robotaxi' roadmap.
Oil prices fall more than 1% as Middle east tensions ease, while gold prices continue to trade near record highs.
(AI Video Summary)
Today's market overview
In a comprehensive market update ahead of Wall Street's opening, the discussion on today's edition of "Beat the street" revolves around key financial indicators and implications for traders. Inflation data, with upcoming CPI and TPI reports, could influence the Fed's interest rate decisions, countering hopes for rate cuts, given rising commodity prices.
Tesla abandons low-cost car production, shifting focus to 'Robotaxis'. Oil prices have also dipped over 1% amidst easing Middle Eastern tensions, potentially impacting market dynamics. The video also touches on semiconductor supply concerns due to the earthquakes in Taiwan and its potential bottleneck for industries, including AI development led by companies like NVIDIA.
Moreover, technical analysis of NASDAQ performance hints at ongoing market consolidation, while Tesla's strategic shift raises speculations within the electric vehicle sector. Ong concludes with a glance at Boeing's FAA investigation and the gold's market position, emphasising prevailing market cautiousness ahead of significant economic data releases.
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