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US Inflation cools down, Stock market observed best weekly gains in 2 months

  

Last Week Risers & Fallers:

  • Dow Jones (US30) – The Dow Jones gained 112 points or 0.33% on Friday thanks to the lower US CPI report and banks Q4 earnings reports that came in on Friday.  The Dow closed at 34,302.61.

  • Tesla Inc. (NASDAQ: TLSA) – Tesla stocks declined 0,94% on Friday. Tesla Model 3 and Model Y inventory is accumulating, and price cuts are being introduced in the European and US markets. The stock closed at $122.40, booking a weekly gain of 2.85%.

  • Volkswagen AG (VWAPY) – Volkswagen stocks declined 2.79% on Friday. The company reported lowest sales in over a decade, due to supply chain disruptions related to the war in Ukraine and Covid-19 lockdowns in China. The stock is trading at $13.58.

  • Crude oil – Crude oil rose 2.14% on Friday to close at $80.07 per barrel. Oil futures has been bullish this week, spurred by China’s reopening triggering demand.

Major events to watch:

  • UK (GBP) UK Consumer Price Index (MoM) – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.  CPI declined to 10.7%, lower than the forecast of 10.9%.

The report is due Tuesday, 17 January at 07:00 GMT

  • EUROPE (EURO) European Consumer Price Index (YoY) – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. CPI cooled down to 9.2%, lower than the forecast of 9.7%.

The report is due Wednesday, 18 January at 10:00 GMT

  • USA (USD) US Initial Jobless Claims – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Jobless claims reached 205K last week, better than the forecast of 215K.

The report is due Thursday, 19 January at 13:30 GMT


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