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US CPI reaches 8,2%, stock market loses weekly gains


Last Week’s Risers & Fallers:

Tesla Inc. (NASDAQ: TLSA) – Tesla Inc. declined 7.55% on Friday. The Twitter saga involving Elon Musk is still ongoing. Furthermore, the stock has lost 50% from the all-time high in November last year. Tesla Inc. is trading at $204.99 per share.

Nasdaq (US100) – The Nasdaq was down by 3.08% on Friday after stocks declined amidst rising CPI numbers. The tech index closed at 10,321.09.

Crude Oil – Crude oil lost 4%, reaching $85.55 per barrel as US inflation rose year on year.

Silver – The price of silver declined 3.80% as the stronger dollar gained, fueled by rising CPI. Silver is trading at $18.20.

Significant events to watch:

UK (GBP): UK Core Price Index (CPI) – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a crucial way to measure changes in purchasing trends and inflation. The last CPI was 9.9%, lower than the forecast of 10.2%.

The report is due Wednesday, 19 October, at 06:00 GMT.

USA (USD): Existing Home Sales – Existing Home Sales measure the change in the annualized number of existing residential buildings sold during the previous month. This report helps to gauge the strength of the US housing market and is a crucial indicator of overall economic stability. The last report was 4.80M, better than the forecast of 4.70M.

The report is due Thursday, 20 October, at 14:00 GMT.

Canada (CAD): Core Retail Sales – Core Retail Sales measure the change in the total sales value at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy. The last report was -3.1%, worse than the forecast of -1.2%.

The report is due Friday, 21 October, at 12:30 GMT.

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