Dow Jones IndexIt jumped 555 points, surpassing today’s 34,000 mark, in response to the release.Consumer Price Index (CPI) lower than expected This will be one factor encouraging the US Federal Reserve (Fed) to slow rate hikes. that all shares rose today led by the communication group
As of 21:46 Thai time, the Dow Jones Industrial Average was 34,560.67 points, up 555.63 points or 1.63%.
United States Department of Labor The CPI index, which measures consumer inflation, has been released. Month of November today, with the aforementioned CPI figure below analyst expectations. This indicates that US inflation has reached its peak.
The core CPI, which includes food and energy, rose 7.1% year-on-year in November. The headline CPI rose 0.1% in November, below analysts’ 0.3% gains.
Core CPI, which excludes food and energy, rose 6.0% year-on-year in November. Monthly CPI of 6.1% rose 0.2% in November, below the 0.3% expected by analysts.
Investors add to their expectations that The Fed will raise interest rates by just 0.25% in February 2023. This is the Fed’s first monetary policy meeting next year. After revealing lower than expected inflation numbers today
Recently, CME Group’s FedWatch tool indicates that investors weigh 59.8% and that the Fed will raise interest rates by 0.25% to a level of 4.50-4.75% after its meeting on 31 January – February 1, 2023. This page weighs only 35.1%.
Investors are keeping tabs on the Fed’s monetary policy meeting this week. which is the last meeting of this year. The Fed will start meeting today. and will announce the result of the meeting tomorrow
Markets expect the Fed to hike interest rates by 0.50% to a range of 4.25 to 4.50% this round of meetings. after rising 0.75% four consecutive times Meanwhile, Fed Chairman Jerome Powell signaled that the Fed would slow its interest rate hike in December.
The market will follow Mr. Powell’s comments after tomorrow’s meeting. This will indicate the direction of Fed interest rates in 2023, including the release of Fed officials’ official interest rate forecasts (Dot Plot) at this meeting. This will signal the Fed’s interest rate outlook through 2025.
