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Wall St inches up after in-line inflation data eases investor fears

By Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) -U.S. stock indexes rose on Wednesday after consumer prices data that largely met expectations eased some concerns about...
Wall St inches up after in-line inflation data eases investor fears © Reuters. FILE PHOTO: A trader watches his chart while working on the floor of the New York Stock Exchange July 8, 2014. REUTERS/Brendan McDermid

By Bansari Mayur Kamdar and Shreyashi Sanyal

(Reuters) -U.S. stock indexes rose on Wednesday after consumer prices data that largely met expectations eased some concerns about faster-than-expected interest rate hikes, with megacap technology stocks offering the biggest boost.

Data from the Labor Department showed its consumer price index increased 0.5% last month after rising 0.8% in November, while in the 12 months through December, the CPI surged 7.0% to its highest year-on-year rise in nearly four decades.

Economists polled by Reuters had forecast the CPI gaining 0.4% in December and shooting up 7.0% on a year-on-year basis.

"The fact that the core rate came in just about in line with expectations suggests that we're beginning to see some sort of a decline going forward," said Peter Cardillo, chief market economist at Spartan Capital Securities.

Nine of the 11 major S&P 500 sector indexes rose, with technology and consumer discretionary that house some of the biggest growth companies boosting the benchmark index.

Mega-cap companies including Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Microsoft Corp (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) Inc and Tesla (NASDAQ:TSLA) Inc extended gains, rising up to 2.8%.

Growth and technology stocks, hit by rising Treasury yields and hawkish commentary from the Federal Reserve, have staged a comeback this week, with investors watching a variety of metrics to decide whether to buy the rally or brace for more declines.

Big Tech was buoyed by comments from Fed Chair Jerome Powell on Tuesday which sounded less hawkish, easing concerns sparked by minutes from the central bank's December meeting.

At 12:13 p.m. ET, the Dow Jones Industrial Average was up 9.21 points, or 0.03%, at 36,261.23, the S&P 500 was up 6.82 points, or 0.14%, at 4,719.89 and the Nasdaq Composite was up 19.18 points, or 0.13%, at 15,172.63.

JPMorgan Chase & Co (NYSE:JPM), Citigroup Inc (NYSE:C) and Morgan Stanley (NYSE:MS) will be kicking off the fourth-quarter earnings season on Friday, followed by results from Bank of America Corp (NYSE:BAC) on Jan. 19.

"Earnings may exceed expectations and that is what is keeping investors active despite knowing that the Fed is going to start tightening in the next several months," said Eric Schiffer, chief executive officer of California-based private equity firm Patriarch Organization.

"You'll also see less commentary on earnings calls referencing supply chain constraints this season."

In sectors like air travel, however, the onset of Omicron could dampen earnings expectations, with analysts at Bank of America reckoning that the pandemic's impact on corporate travel is the biggest risk to the airline industry.

Drugmakers Eli Lilly (NYSE:LLY) and Biogen (NASDAQ:BIIB) dropped 7.8% and 4.0% respectively.

The U.S. government Medicare program said on Tuesday it plans to cover Alzheimer's treatments including Biogen's Aduhelm but will require patients to be enrolled in a clinical trial, limiting access to more than many expected. This could impact Lilly that is also developing similar drugs.

Advancing issues outnumbered decliners by a 1.08-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 37 new 52-week highs and one new low, while the Nasdaq recorded 47 new highs and 99 new lows.

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18-01-2022 12:26:15 (UTC+7)

EUR/USD

1.1332

-0.0075 (-0.66%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (0)

EUR/USD

1.1332

-0.0075 (-0.66%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (0)

GBP/USD

1.3584

-0.0062 (-0.45%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

USD/JPY

114.55

-0.05 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.7179

-0.0031 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

USD/CAD

1.2549

+0.0030 (+0.24%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

EUR/JPY

129.82

-0.90 (-0.69%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (5)

EUR/CHF

1.0387

-0.0037 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Gold Futures

1,814.25

-2.25 (-0.12%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.473

+0.555 (+2.42%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (7)

Copper Futures

4.3908

-0.0297 (-0.67%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

Crude Oil WTI Futures

84.23

+0.93 (+1.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Brent Oil Futures

86.90

+0.42 (+0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Natural Gas Futures

4.292

+0.030 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

239.90

+0.25 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Euro Stoxx 50

4,257.82

-44.32 (-1.03%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,583.50

-79.35 (-1.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

DAX

15,772.56

-161.16 (-1.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

FTSE 100

7,563.55

-47.68 (-0.63%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

24,112.78

-105.25 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,108.70

-52.85 (-2.45%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (1)

IBEX 35

8,781.60

-57.10 (-0.65%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

BASF SE NA O.N.

67.660

-0.480 (-0.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Bayer AG NA

52.06

-0.76 (-1.44%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Allianz SE VNA O.N.

225.95

-1.10 (-0.48%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Adidas AG

254.20

+1.55 (+0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

7.129

-0.112 (-1.55%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (4)

Siemens AG Class N

142.60

-3.40 (-2.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Bank AG

11.926

-0.092 (-0.77%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1332↑ Buy
 GBP/USD1.3584Neutral
 USD/JPY114.55↑ Sell
 AUD/USD0.7179↑ Sell
 USD/CAD1.2549Buy
 EUR/JPY129.82Sell
 EUR/CHF1.0387↑ Sell
 Gold1,814.25↑ Buy
 Silver23.473↑ Sell
 Copper4.3908↑ Sell
 Crude Oil WTI84.23↑ Sell
 Brent Oil86.90↑ Sell
 Natural Gas4.292↑ Sell
 US Coffee C239.90↑ Buy
 Euro Stoxx 504,257.82↑ Sell
 S&P 5004,583.50↑ Sell
 DAX15,772.56↑ Sell
 FTSE 1007,563.55↑ Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,108.70Neutral
 IBEX 358,781.60↑ Sell
 BASF67.660↑ Sell
 Bayer52.06Neutral
 Allianz225.95↑ Sell
 Adidas254.20↑ Sell
 Lufthansa7.129↑ Sell
 Siemens AG142.60↑ Sell
 Deutsche Bank AG11.926↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(0/ 0) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
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KRW16,5120,11
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