Stock Market Live Updates: Sensex hits milestone 73,000, Nifty surges beyond 22,000 in IT-driven rally
1)The US consumer price index (CPI) accelerated to a 3.4pc annual rate in December from a 3.1pc rate in November, the Labor Department reported today. Core inflation, which strips out the more volatile food and energy, slowed to a 3.9pc rate from a 4pc rate. Inflation has eased from a peak 9.1pc rate in June 2022.
2)Initial jobless claims inched down by 1,000 to 202,000 in the week ended Jan. 6, the Labor Department said Thursday. This is the lowest level since mid-October. Economists polled by The Wall Street Journal had estimated new claims would rise to 210,000.
3)The US trade deficit contracted 2.0% to $63.2 billion, the Commerce Department’s Census Bureau said. Data for October was revised slightly to show the trade gap widening to $64.5 billion instead of the previously reported $64.3 billion.
4)The US consumer credit rose $23.7 billion in November, up from a $5.8 billion increase in the prior month, the Federal Reserve said Monday. That translates into a 5.7% annual rate, up from a revised 1.4% rise in the prior month.
5)Fed income after expenses came in at a negative $114.3 billion last year, versus $58.8 billion in positive income the year before. The loss was tied to a jump in interest expenses faced by the central bank amid a rate hike campaign aimed at cooling inflation.
6)The eurozone’s unemployment rate fell to 6.4% in November 2023, down from 6.5% in the previous month and from 6.7% the previous year, according to the latest data from Eurostat, the EU’s statistical office. The number of unemployed individuals declined by 99 thousand from the prior month to 10.970 million. Meanwhile, the youth unemployment rate, reflecting those under 25 seeking employment, fell to 14.5% from the previous month’s 14.8%.
7)Eurozone economic sentiment indicator rose to 96.4 in December, up from the revised 94 in November, while industry confidence indicator rose to 9.2. up from -95 and services sentiment increased to 8.4 from an upwardly revised 5.5.
8)The UK economy grew 0.3% on a monthly basis in November, beating market expectations. According to Office for National Statistics (ONS) data on Friday, monthly GDP was up 0.3% after a fall of 0.3% in October. In November, services were the main contributor to the monthly GDP growth, rising 0.4%.
9)The index of coincident economic indicators in Japan, which covers a range of data, such as factory output, employment, and retail sales, dropped to 114.5 in November 2023 from a final 115.9 in the prior month, flash data showed. This was the lowest reading since March, as the economy struggled to maintain strong post-pandemic recovery amid elevated inflation.
10)China’s exports and imports grew slightly in December, despite deflationary pressures, according to official data. Exports rose by 2.3% to $303.6 billion, while imports rose by 0.2% to $228.2 billion. China’s total trade surplus for December was $75.3 billion, up 10.1% from $68.3 billion in November.
11)China’s consumer prices fell by 0.3% y/y in December 2023, marking the third straight month of decline which was the longest streak of drop since October 2009. Figures came less than market forecasts of a 0.4% fall while moderating from the steepest decrease in 3 years of 0.5% for November.
12)China’s producer price index (PPI), which measures costs for goods at the factory gate, went down 2.7 percent year on year in December, the National Bureau of Statistics said Friday. The decrease narrowed from a 3-percent decline in November.
