The consumer price index rose 0.5% in January compared to the previous month, according to the latest statistics.[0] This increase was sharper than the expected advance of 0.4%, and on an annual basis, CPI rose at a 6.4% pace.[1] Core prices, excluding the volatile food and energy sectors, showed a 5.6% increase from last year.[1]
In the US, the 10-year Treasury yield rose 1 basis point to 3.76% following the inflation data release. The 2-year yield gained 9 basis points to 4.62%.[1] The yield of the 10-year U.S. Treasury bond increased by 4 basis points, reaching 3.76 The two-year Treasury yield stayed close to its November peak after increasing by 10 basis points on Tuesday.[2] The 10-year Treasury benchmark remained mostly unchanged following a four basis point decrease in the previous day.[2]
In the pre-market trading, Dow Jones futures fell 0.1%, S&P 500 futures were down 0.2%, and Nasdaq 100 futures fell 0.3%.[3] After the market opening Tuesday, the Dow traded down 0.46% to 34,089.44 while the NASDAQ fell 0.42% to 11,842.10.[4] The S&P 500 also fell, dropping 0.37% to 4,122.02.[4]
On Tuesday, Microsoft shares saw an increase of 0.3%, continuing the upward trend from the day before[5] The stock prices are currently higher than their 200-day moving average, and about 14% lower than the 52-week high that was reached recently due to recent[6] The MSFT stock declined by 0.4% on Wednesday morning.[6] Tesla (TSLA) experienced a rise of over 1% in pre-market trading following Barclays’ initiation of coverage of the stock with an “overweight” rating and a target price of $275.
Investing in the stock market can be a great way to build wealth.[7] However, it is important to evaluate the risks and understand the different types of investments available. On Tuesday, Tesla Inc. (NASDAQ: TSLA) saw its share price jump 7.51%, making it one of the biggest gainers of By the end of next year, the company committed to providing a minimum of 7,500 charging stations for non-Tesla vehicles in their network.[8] In the fourth quarter, George Soros’s investment management firm increased its portfolio by approximately 43,000 shares of Tesla stock and had call options set on an additional 200,000.[8]
0. “5 things to know before the stock market opens Tuesday” CNBC, 14 Feb. 2023, https://www.cnbc.com/2023/02/14/5-things-to-know-before-the-stock-market-opens-tuesday-february-14.html
1. “S&P 500, Nasdaq, Dow end choppy session with mixed performance after CPI data (SP500)” Seeking Alpha, 14 Feb. 2023, https://seekingalpha.com/news/3935955-cpi-data-leads-to-choppy-trading-mixed-finish-for-sp-500-nasdaq-dow
2. “Stocks Fall as Consumer Spending Just Won’t Quit: Markets Wrap” Yahoo! Voices, 15 Feb. 2023, https://www.yahoo.com/now/asia-stocks-set-choppy-open-224521125.html
3. “S&P 500, Nasdaq, Dow ride high Monday as markets await new CPI data” Proactive Investors USA, 13 Feb. 2023, https://www.proactiveinvestors.com/companies/news/1005920/s-p-500-nasdaq-dow-ride-high-monday-as-markets-await-new-cpi-data-1005920.html
4. “Dow Falls 150 Points; US Consumer Prices Rise 0.5% In January – Endava (NYSE:DAVA), Denny’s (NASDAQ:DENN)” Benzinga, 14 Feb. 2023, https://www.benzinga.com/news/earnings/23/02/30900435/dow-falls-150-points-us-consumer-prices-rise-0-5-in-january
5. “Dow Jones Futures Fall: Stock Market Rally Signals It’s No Bear Run, But Don’t Get Complacent | Investor’s Business …” Investor’s Business Daily, 6 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-signals-its-not-a-bear-run-what-to-do-now/
6. “Dow Jones Drops 200 Points On Strong Retail Sales; Tesla Reverses Lower Despite Buy Rating” Investor’s Business Daily, 15 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fall-ahead-of-retail-sales-tesla-stock-races-higher-on-buy-rating/
7. “Strong start to the new trading week in the US stock market” ForexLive, 13 Feb. 2023, https://www.forexlive.com/news/strong-start-to-the-new-trading-week-in-the-us-stock-market-20230213
8. “Before the Bell: Tesla Drives Nasdaq, Soros Drives Tesla and Buffett Dumps TSMC” 24/7 Wall St., 15 Feb. 2023, https://247wallst.com/investing/2023/02/15/before-the-bell-tesla-drives-nasdaq-soros-drives-tesla-and-buffett-dumps-tsmc