This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeto"restore free expression" and move to a"Community Notes" model, similar to the system on Elon Musk's platform X. Employees took to their internal forum andafter a tepid debt auction fueled worries over demand.
The price index for December's ISM report jumped to 64.4% from 58.2% in November, representing a rise of more than 10%. It's the first time since January 2024 the reading has come in above 60%, noted Steve Miller, chair of ISM's Business Survey Committee. That might only be the start of an unwelcome upward trend. Miller attributes some of the expansion in service activity to"risk management for impacts from ports strikes and potential tariffs" — both of which generate inflationary pressures.to 4.699% during the U.S. trading day, the highest level since April 26. They also dialed down their expectations for a 25 basis points rate cut at the U.S. Federal Reserve's January meeting, pricing in a 4.
But the strong ISM report also suggests the U.S. economy's still doing well, which provides fertile ground for profit growth, said Hainlin. And as David Lefkowitz, CIO head of US equities for UBS, wrote in a Monday note,"profit growth matters more" than valuation for returns over the next 12 months. One data point from one measure of inflation doesn't chart out the path of inflation or corporate health for the year ahead. But it pays to tread carefully for now.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Market Reaction to Fed Rate Cut: Sell-Off and Rising Inflation ConcernsThe stock market reacted negatively to the Federal Reserve's recent rate cut, with major indices experiencing significant declines.
Source: nbcsandiego - 🏆 524. / 51 Read more »
Inflation Concerns and Market VolatilityThis news piece discusses rising inflation concerns, market volatility, and Anthropic's fundraising efforts. It examines the impact of inflation on the U.S. market, the outlook for interest rates, and the potential for stagflation in the UK.
Source: NBCNewYork - 🏆 270. / 63 Read more »
Market Volatility and Inflation Concerns Grip InvestorsCNBC Daily Open reports on market anxieties fueled by a tepid debt auction, potential stagflation in the UK, and soaring inflation readings. The report also covers Anthropic's fundraising efforts, Howard Marks' cautious outlook on the stock market, and rising U.S. Treasury yields.
Source: nbcsandiego - 🏆 524. / 51 Read more »
Market Volatility and Inflation ConcernsCNBC Daily Open reports on market shifts, including the South Korean Kospi's rise, Samsung Electronics' stock performance amidst platform changes, and Anthropic's fundraising success. The report also highlights investor concerns about inflation and its impact on the market, citing the December ISM report's jump in the price index.
Source: NBCLA - 🏆 319. / 59 Read more »
USD slips, market jitters rise – ScotiabankMarkets are ending the week of a bit of a sour note. The USD has been clipped back somewhat in overnight trade as investors ponder a looming US government shutdown.
Source: FXStreetNews - 🏆 14. / 72 Read more »