Inflation rises, but there are still things to be thankful for | Real Time Headlines

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

Inflation picks up in October
Personal consumption expenditures price index in October up 0.2% On a monthly basis, 2.3% on a 12-month basis, according to The request was made to the U.S. Commerce Department on Wednesday. Core inflation rose 0.3% this month to an annualized rate of 2.8%, up from 2.7% in September. All data are in line with Dow Jones consensus estimates.

U.S. markets break out of gains
US stock market fell on wednesdaythe S&P 500 ended its seven-day winning streak. Bond prices rise U.S. Treasury yields fall. Asia Pacific stocks Most gains on Thursday. Australian S&P/ASX 200 Index It rose 0.45% and closed at a new high. South Korea’s blue-chip Kospi stock index was flat after the Bank of Korea cut interest rates.

South Korea unexpectedly cuts interest rates
On Thursday, the Bank of Korea Lower base interest rates rose 25 basis points to 3%. A Reuters poll of economists had expected the Bank of Korea to keep interest rates unchanged. South Korea report Economic growth in the third quarter last month was disappointing, growing by only 0.1% from the previous quarter. On Thursday, the Bank of Korea lowered its 2024 gross domestic product (GDP) forecast to 2.2% from 2.4%.

Offshore yuan may fall to lowest level
According to forecast calculations by CNBC on 13 institutions, the average exchange rate of China’s offshore RMB against the US dollar is expected to fall to 7.51 by the end of 2025. that would be Offshore yuan hits record lowLondon Stock Exchange Group (LSEG) data goes back to 2004.

(PRO) Potential beneficiaries of tariffs
U.S. President-elect Trump’s tariff plan has investors and businesses worried as higher import charges will raise costs. That is, these tariffs may Benefiting five technology companies Specialized in helping companies optimize their supply chains.

this SPDR S&P 500 IndexExchange-traded funds that track broad-based indexes saw about 22.6% fewer shares traded than their 30-day average.

So even if Standard & Poor’s fell 0.38%, breaking seven consecutive gains Dow Jones Industrial Average Down 0.31%, these measures do not appear to be mass panic-induced selling.

Instead, traders appeared to be thanking Big Tech stocks for their gains this year by taking profits, which led to Nasdaq Index The decline was relatively large, at 0.6%.

The fact that U.S. inflation rose 0.1 percentage point on an annualized basis from last month didn’t seem to unsettle investors too much, possibly because it wasn’t an unexpected increase.

In fact, traders have increased their bets that the Fed will cut interest rates by 25 basis points at its December meeting. According to market forecasts, the probability of this happening is 68.2%, up from 55.7% a week ago. CME FedWatch Tool.

“Today’s data should not change views on the likely path of deflation, no matter how bumpy it may be,” said David Alcaly, chief macroeconomic strategist at Lazard Asset Management.

Scott Helfstein, head of investment strategy at Global

Investors can also get involved in the celebrations. Chris Verrone, director of technical and macro research at Strategas, said more than three-quarters of stocks in the S&P were above their 200-day moving average, indicating a stable upward trend and that the market “remains solid.”

There is much to be thankful for this Thanksgiving.

—CNBC’s Jeff Cox, Scott Schnipper, Alex Harring and Sean Conlon contributed to this report.