© Reuters.
Investing.com – Thursday (13)Before the market opensUS stock index futures plunged directly into the water. The previously announced CPI was stronger than expected, which significantly bolstered market expectations that the Fed would raise interest rates again by 75 basis points. Some people have even started to think that a 100 basis point does not rule out a rate hike.
The data shows that the monthly rate of the US consumer price index rose sharply from 0.1% to 0.4% in September, well above the 0.2% expected by the market; the annual rate fell from 8.3% to 8.2%, but higher than the 8.1% expected by the market.
The monthly core CPI rate remained at 0.6%, higher than the expected 0.5%, and the annual rate rose to 6.6% from 6.3%, also higher than the expected 6.5% .
The agency said housing market conditions were the main factor behind the overall CPI growth, which recorded 2.2%, up from 2.0% the previous month. Rental inflation has risen in 18 of the past 19 months.
However, initial jobless claims rose to 228,000 from 219,000, surpassing consensus expectations of 225,000.
Following the release of the data, US stock index futures plummeted, Dow futures plummeted from a 300-point gain to a 500-point drop, and Nasdaq futures also fell about 3%. Meanwhile, Comex fell 1%, or $ 20, on the New York Mercantile Exchange. According to 4% easily reachable, 3,993% reported. The previous fewer than 113 went straight to 114, reaching 113.83.
Meanwhile, prices in the federal funds futures market showed that the terminal rate was 4.65% in March next year, but has now risen to 4.84%. Markets are now pricing in a 13% probability of a 100 basis point Fed rate hike in November.
As of 8:46 pm HKT (8:46 am ET), Investing.comUS stock marketDisplay, down 530.2 points or about 1.81%, to 28,687.90 points; down 80.6 points, or about 2.25%, to 3,496.40 points; down 327.2 points, or about 3.02%, to 10,458.40 points.
Stocks before the market opens
Delta Air Lines (NYSE: Delta Air Lines) climbed 0.99% to a new high and said it expects travel demand to remain strong despite the growing risk of a recession.
US pharmacy chain Walgreens Boots (NASDAQ: NASDAQ: RWTH) increased 0.47% as revenues from its COVID-19 vaccine business offset weaker prescription drug business and minor sales of Medicare over-the-counter drugs.
Dealer Kohl’s (NYSE 🙂 fell 1.67% on news that hedge fund activist investor Macellum is looking to change its board of directors.
BlackRock (NYSE :), the world’s largest asset manager, fell 3.6%, albeit stronger than expected, as strong demand for ETFs and other low-risk products cushioned the blow to fees due to the asset crisis. global markets.
Domino’s Pizza (NYSE 🙂 was up 6.4% after same-store sales in the US exceeded expectations and discounts boosted demand for the product.
Victoria’s Secret (NYSE 🙂 was up 2.46% as the company expects third-quarter earnings to be near the high end of indications.
Applied Materials (NASDAQ 🙂 fell 4.59% after the company warned that fourth-quarter revenue and earnings would be lower than expected due to new U.S. export restrictions to China.
TSMC (NYSE 🙂 fell 0.56%. Although TSMC’s latest results exceeded market expectations, net profit increased 79.7% year-on-year to NT $ 280.866 billion, but the company said it would cut capital expenditures by 10 % in the next year.
Insurance tech firm Duck Creek (NASDAQ 🙂 was up 4.91%.
Tesla (NASDAQ 🙂 fell 3.66%. Apple Inc (NASDAQ: AAPL) lost 2.50%. Netflix (NASDAQ:) shed 3.20%, Microsoft Corp (NASDAQ:) shed 2.68%, Amazon (NASDAQ:) shed 3.54%, Alphabet (NASDAQ:) shrank 2, 80%, Meta Platforms (NASDAQ 🙂 fell 3.11%, Twitter (NYSE 🙂 fell 0.12%.
Chinese conceptual actions
China Internet ETF KraneShares CSI China Internet (NYSE 🙂 fell 4.44%.
Futu Securities (NASDAQ 🙂 fell 5.29% and Tiger Securities (NASDAQ 🙂 fell 5.12%.
Weilai Automobile (NYSE 🙂 (HK 🙂 fell 2.95%, Li Auto (NASDAQ:) (HK 🙂 fell 3.63%, and Xiaopeng Motors (NYSE:) (HK 🙂 fell 3 98%. Mavericks Electric (NASDAQ 🙂 lost 3.77%.
Bilibili (NASDAQ 🙂 (HK 🙂 lost 7.45% and iQiyi (NASDAQ 🙂 5.75%.
Alibaba (NYSE 🙂 (HK 🙂 lost 4.07%, JD.com (NASDAQ:) (HK 🙂 lost 4.74%, and Pinduoduo (NASDAQ:) 4.92%.
Baidu (NASDAQ 🙂 (HK 🙂 fell 4.45%. NetEase (NASDAQ 🙂 (HK 🙂 was down 4.83%.
Economic data and events
8:30 pm HKT (8:30 am ET)
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