Wall Street Today | Fed to Get Some Help in Pausing as Inflation Gauge Gap Shrinks
MACRO
Fed to Get Some Help in Pausing as Inflation Gauge Gap Shrinks
The unusually wide gap between the two main US inflation gauges is poised to narrow in the months ahead, giving Federal Reserve officials more cover to pause interest-rate increases in early 2023.
Over the last several months, CPI has exceeded PCE price gauge by the most since the early 1980s. Excluding food and energy, the difference in so-called core inflation is also the widest in decades.
Directors at 9 Fed Banks Sought 75 Bps Discount Hike Pre-Nov
Directors at nine of the 12 regional Federal Reserve branches sought a 75 basis-point increase in the discount rate in the weeks before the US central bank's Nov. 1-2 meeting while three favored only raising the discount rate by 50 basis points.
Minutes of discount rate meetings released by the Fed on Tuesday showed that directors at the Federal Reserve banks of Kansas City, New York and Philadelphia had favored the smaller increase.
Confidence Among US Consumers Declines to a Four-Month Low
US consumer confidence fell in November to a four-month low amid the double blow of persistent inflation and rising interest rates. The Conference Board's index decreased to 100.2 this month from a revised 102.2 reading in October, data out Tuesday showed.
SECTORS
OPEC+ Changes Its Dec. 4 Meeting Into Online Gathering
There were some predictions on Monday that the group might cut output again. After the shift to virtual talks, some OPEC-watchers were downplaying expectations of a policy change.
US Home Prices Tumble in September for Third Straight Month
Home prices declined again in September as higher rising mortgage rates sapped demand from the housing market. Prices slid 1% nationally in September from August, the third consecutive monthly decline, the S&P CoreLogic Case-Shiller index showed on Tuesday.
COMPANY
Spotify, Epic Games Get Ally in Musk in Fight Against Apple Fees
Elon Musk's declaration of war on $Apple(AAPL.US$ in a series of tweets on Monday gives $Spotify Technology(SPOT.US$ and Fortnite maker Epic Games a powerful ally in taking the tech giant to task over its 30% App Store fees.
AMC Networks to Cut 20% of US Staff as CEO Abruptly Departs
$AMC Networks(AMCX.US$, the home of popular TV shows like The Walking Dead, announced a layoff of one-fifth of its US workforce and the departure of its chief executive officer, becoming the latest media company rocked by cable television's accelerating subscriber losses.
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CrowdStrike Stock Drops over 18% as Elongating Sales Cycle Slows New Subscriptions
$CrowdStrike(CRWD.US$ shares dropped 18% in the extended session Tuesday after the cybersecurity company said new subscriptions came in below expectations amid macro headwinds and longer customer buying cycles.
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Amazon Launches Supply-Chain Software Service
$Amazon(AMZN.US$ is adding a supply-chain management service to its web services business, jumping into an increasingly competitive technology field as companies try to get tighter control of the flow of goods from factories to consumers.
Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance
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WallStreetYoda 72770337: 110
oilriggerwife61 : please be careful pretty soon you will have everybody will have to pay taxes it's called a 1099-k and even people that are on social security and SSI have to pay taxes too it's no more freebies. and even your rent is included in your taxes. that's been announced
oilriggerwife61 : 150
星空探索 : Is the gap narrowing? Flower Street is once again making this kind of so-called news a hit!