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Dow Jones is Down 300 points amidst stronger PPI numbers


Last Week’s Risers & Fallers:

  • Dow Jones (US30) – The DJIA lost 300 points on Friday; US PPI numbers came in stronger than forecast, raising concerns about steeper rate increases among investors. The Dow was trading at 33,476 at the close.

  • Meta Inc. (NASDAQ: META) – Meta’s stock increased about a half percent (0.49%) on Friday; the stock has lost over 60% since the beginning of 2022. Meta was trading at  $115.90 on Friday at the market close.

  • GOLD –  Gold was up 0.44% on Friday, reaching $1,809.40. Gold reached a weekly high despite the higher inflation numbers. 

  • EURUSD –  The Euro was down 0.2% against the US dollar on Friday. The pair is trading on a major support zone, stopping at 1.0539.

Significant events to watch:

  • USA (USD) – US Core Consumer Price Index – The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a crucial way to measure changes in purchasing trends and inflation. The CPI declined slightly last month to 0.3% versus the forecast of 0.5%.

The report is due Tuesday, 13 December, at 13:30 GMT.

  • USA (USD) – Fed Interest Rate Decision – Federal Open Market Committee (FOMC) members vote on where to set the rate. Traders watch interest rate changes closely as short-term interest rates are the primary factor in currency valuation. The US interest rate is set at 4.0%.

The report is due Wednesday, 14 December, at 19:00 GMT.

  • EUROPE (EURO) Eurozone Interest Rate Decision – The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks vote on where to set the rate. Traders watch interest rate changes closely as short-term interest rates are the primary factor in currency valuation. Europe’s interest rate is set at 2.00%.

The report is due Thursday, 15 November, at 13:15 GMT.

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