Both CPI measures beat the expectations of economists polled by Bloomberg, with forecasts being a 0.3% monthly gain and a 3.4% annual rise. While February’s monthly gains fell in line with March’s figures, March’s annual gain exceeded the 3.4% annual rise posted in February.

Looking at “core” inflation, which excludes more volatile food and energy costs, the CPI rose by 0.4% compared to February and 3.8% on a yearly basis. Economists expected a 0.3% monthly gain and a 3.7% year-over-year rise, with actual figures outpacing both. Should inflation continue this upward trend, the Federal Reserve may reconsider its stance on introducing interest rate cuts later in the year.

The post Consumer Price Index Comes in Hotter in March appeared first on theprimarymarket.com.

“A large number of Luxeed S7 vehicles have already rolled off the production line and are now being transported for delivery to customers,” Richard Yu, managing director and chairman of Huawei’s smart car solutions announced on social media. The premium EV already has over 20,000 orders and is priced at 249,800 yuan ($34,600).

In addition to overcoming the production setbacks, Huawei also revealed that its smart car unit would be transitioned into a new company. In April, the company expects to turn a profit, thereby beginning its recovery after losing billions of yuan last year. Such losses aside, the company earned its highest revenue in 2023 over the past four years from new businesses such as its smart car unit.

The post Huawei Reveals That Chery’s Luxeed S7 EV Begn Mass Delivery appeared first on theprimarymarket.com.

The firm’s team of strategists, led by David Kostin, expect the valuations of megacap tech companies to continue their expansion, thereby potentially sending the index to 6,000 by year-end, reaching a forward price-to-earnings ratio of 23.

“Although AI optimism appears high, long-term growth expectations and valuations for the largest TMT stocks are still far from ‘bubble’ territory,” the team of strategists observed in a note to investors. Closing at 5,234.18 on Friday, the S&P 500 is up by almost 10% this year.

The post Goldman Sticks With S&P 500 Year-End Forecast of 5,200 Amid Strong Economic Data appeared first on theprimarymarket.com.

Fed Chair Jerome Powell revealed that the U.S. central bank appears to be gaining the confidence to introduce interest rate cuts following the release of optimistic economic data. “The Fed may have less confidence on inflation than before, but it still has confidence in the disinflation trend,” Bank of America economists observed.

With attention remaining firmly on the US Federal Reserve, the Bank of Japan is also set to convene this week. It’s largely expected to bring an end to its negative-rate policy on Tuesday. The Bank of England is set to release its own interest rate policy decision later in the week as well.

The post U.S. Stocks Rise Ahead of Fed Rate Decision appeared first on theprimarymarket.com.

The benchmark S&P 500 slipped 0.1% lower, as did the tech-heavy Nasdaq Composite. Stocks on the Dow Jones Industrial Average edged 0.1% higher. In cryptocurrency news, Bitcoin continued to reach record highs on Monday, exceeding $72,000 for the first time. The cryptocurrency managed to reach $72,500 during early trading bringing its gains for the year to 65%.

With the CPI report due on Tuesday, it is expected to give the Federal Reserve a better idea of whether it is in a position to introduce interest rate cuts and the timeline for such action. February’s jobs report, released last week, provided little indication of monetary policy trajectory after the labor market remained stronger than expected.

The post Stocks Stagnate as Bitcoin Extends Record Rally appeared first on theprimarymarket.com.

Futures on the tech-heavy Nasdaq 100 advanced by as much as 0.7%, while those on the benchmark S&P 500 gained 0.4%. Contracts listed on the Dow Jones Industrial Average rose by 0.2%. For the S&P 500 and Dow Jones Industrial Average, these are welcome gains after both indexes look to rebound from losses of over 1% each.

Among the major movers was cybersecurity firm CrowdStrike, which surged by 23% in premarket trading after it released a healthy outlook that indicated rising demand in the sector. Fellow cybersecurity stock Zscaler rose by almost 4%.

The post Tech Stocks Lift U.S. Futures Higher appeared first on theprimarymarket.com.

Core PCE is set to come in at 2.8% for the month of January on an annual basis, marginally lower than December’s 2.9% reading. On a month-over-month basis, core PCE is set to be 0.4%, up from a 0.2% rise recorded in December. According to Bank of America, these figures are indicative that annualized inflation numbers may rebound above the Fed’s 2% inflation target.

Given that the Consumer Price Index (CPI) and the Producer Price Index (PPI) for January were hotter than expected, there is a risk that PCE could come out higher than expected, Wilmer Stith, bond portfolio manager for Wilmington Trust observed. “I don’t think they’re going to raise rates,” he said of the Fed’s monetary policy. “[But] maybe the Fed walks it back a little bit to two cuts instead of three.”

The post PCE Inflation Report Threatens to Delay Fed Rate Cuts appeared first on theprimarymarket.com.

S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

The post Nasdaq Futures Up 2% Following Blowout Nvidia Earnings appeared first on theprimarymarket.com.

Despite Friday’s weekly losses, stocks on the New York Stock Exchange remain steady despite an influx of data this past week indicating that inflation remains more stubborn than expected. Both the Consumer Price Index and Producer Price Index for January proved stronger than Wall Street analysts expected.

Other data digested by investors this week included a 14.8% decrease in the construction of new homes in January, with home builders largely suspending new projects. Some stocks rose on Friday following strong financial reports, with Applied Materials Inc. surging by 6% after releasing upbeat earnings.

The post Stocks Snap Five-Week Winning Streak appeared first on theprimarymarket.com.

Markets are shifting their attention to Tuesday’s Consumer Price Index (CPI) report for January, which is expected to provide clues as to the Federal Reserve’s next interest rate policy decision. “The market is still trying to get a sense of how much the Fed can lower interest rates and how quickly, and I think a softer CPI reading next week would certainly go a long way in encouraging the Fed that inflation is under control,” Gennadiy Goldberg, the head of U.S. rates strategy at TD Securities observed.

Given current economic conditions, traders are pricing an 18% chance that the Fed will implement a rate cut in March, down from 64% last month. A 58% chance of a May rate cut has been priced.

The post Bonds Hit Two-Month High Ahead of Inflation Data appeared first on theprimarymarket.com.

Both CPI measures beat the expectations of economists polled by Bloomberg, with forecasts being a 0.3% monthly gain and a 3.4% annual rise. While February’s monthly gains fell in line with March’s figures, March’s annual gain exceeded the 3.4% annual rise posted in February.

Looking at “core” inflation, which excludes more volatile food and energy costs, the CPI rose by 0.4% compared to February and 3.8% on a yearly basis. Economists expected a 0.3% monthly gain and a 3.7% year-over-year rise, with actual figures outpacing both. Should inflation continue this upward trend, the Federal Reserve may reconsider its stance on introducing interest rate cuts later in the year.

The post Consumer Price Index Comes in Hotter in March appeared first on theprimarymarket.com.

“A large number of Luxeed S7 vehicles have already rolled off the production line and are now being transported for delivery to customers,” Richard Yu, managing director and chairman of Huawei’s smart car solutions announced on social media. The premium EV already has over 20,000 orders and is priced at 249,800 yuan ($34,600).

In addition to overcoming the production setbacks, Huawei also revealed that its smart car unit would be transitioned into a new company. In April, the company expects to turn a profit, thereby beginning its recovery after losing billions of yuan last year. Such losses aside, the company earned its highest revenue in 2023 over the past four years from new businesses such as its smart car unit.

The post Huawei Reveals That Chery’s Luxeed S7 EV Begn Mass Delivery appeared first on theprimarymarket.com.

The firm’s team of strategists, led by David Kostin, expect the valuations of megacap tech companies to continue their expansion, thereby potentially sending the index to 6,000 by year-end, reaching a forward price-to-earnings ratio of 23.

“Although AI optimism appears high, long-term growth expectations and valuations for the largest TMT stocks are still far from ‘bubble’ territory,” the team of strategists observed in a note to investors. Closing at 5,234.18 on Friday, the S&P 500 is up by almost 10% this year.

The post Goldman Sticks With S&P 500 Year-End Forecast of 5,200 Amid Strong Economic Data appeared first on theprimarymarket.com.

Fed Chair Jerome Powell revealed that the U.S. central bank appears to be gaining the confidence to introduce interest rate cuts following the release of optimistic economic data. “The Fed may have less confidence on inflation than before, but it still has confidence in the disinflation trend,” Bank of America economists observed.

With attention remaining firmly on the US Federal Reserve, the Bank of Japan is also set to convene this week. It’s largely expected to bring an end to its negative-rate policy on Tuesday. The Bank of England is set to release its own interest rate policy decision later in the week as well.

The post U.S. Stocks Rise Ahead of Fed Rate Decision appeared first on theprimarymarket.com.

The benchmark S&P 500 slipped 0.1% lower, as did the tech-heavy Nasdaq Composite. Stocks on the Dow Jones Industrial Average edged 0.1% higher. In cryptocurrency news, Bitcoin continued to reach record highs on Monday, exceeding $72,000 for the first time. The cryptocurrency managed to reach $72,500 during early trading bringing its gains for the year to 65%.

With the CPI report due on Tuesday, it is expected to give the Federal Reserve a better idea of whether it is in a position to introduce interest rate cuts and the timeline for such action. February’s jobs report, released last week, provided little indication of monetary policy trajectory after the labor market remained stronger than expected.

The post Stocks Stagnate as Bitcoin Extends Record Rally appeared first on theprimarymarket.com.

Futures on the tech-heavy Nasdaq 100 advanced by as much as 0.7%, while those on the benchmark S&P 500 gained 0.4%. Contracts listed on the Dow Jones Industrial Average rose by 0.2%. For the S&P 500 and Dow Jones Industrial Average, these are welcome gains after both indexes look to rebound from losses of over 1% each.

Among the major movers was cybersecurity firm CrowdStrike, which surged by 23% in premarket trading after it released a healthy outlook that indicated rising demand in the sector. Fellow cybersecurity stock Zscaler rose by almost 4%.

The post Tech Stocks Lift U.S. Futures Higher appeared first on theprimarymarket.com.

Core PCE is set to come in at 2.8% for the month of January on an annual basis, marginally lower than December’s 2.9% reading. On a month-over-month basis, core PCE is set to be 0.4%, up from a 0.2% rise recorded in December. According to Bank of America, these figures are indicative that annualized inflation numbers may rebound above the Fed’s 2% inflation target.

Given that the Consumer Price Index (CPI) and the Producer Price Index (PPI) for January were hotter than expected, there is a risk that PCE could come out higher than expected, Wilmer Stith, bond portfolio manager for Wilmington Trust observed. “I don’t think they’re going to raise rates,” he said of the Fed’s monetary policy. “[But] maybe the Fed walks it back a little bit to two cuts instead of three.”

The post PCE Inflation Report Threatens to Delay Fed Rate Cuts appeared first on theprimarymarket.com.

S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

The post Nasdaq Futures Up 2% Following Blowout Nvidia Earnings appeared first on theprimarymarket.com.

Despite Friday’s weekly losses, stocks on the New York Stock Exchange remain steady despite an influx of data this past week indicating that inflation remains more stubborn than expected. Both the Consumer Price Index and Producer Price Index for January proved stronger than Wall Street analysts expected.

Other data digested by investors this week included a 14.8% decrease in the construction of new homes in January, with home builders largely suspending new projects. Some stocks rose on Friday following strong financial reports, with Applied Materials Inc. surging by 6% after releasing upbeat earnings.

The post Stocks Snap Five-Week Winning Streak appeared first on theprimarymarket.com.

Markets are shifting their attention to Tuesday’s Consumer Price Index (CPI) report for January, which is expected to provide clues as to the Federal Reserve’s next interest rate policy decision. “The market is still trying to get a sense of how much the Fed can lower interest rates and how quickly, and I think a softer CPI reading next week would certainly go a long way in encouraging the Fed that inflation is under control,” Gennadiy Goldberg, the head of U.S. rates strategy at TD Securities observed.

Given current economic conditions, traders are pricing an 18% chance that the Fed will implement a rate cut in March, down from 64% last month. A 58% chance of a May rate cut has been priced.

The post Bonds Hit Two-Month High Ahead of Inflation Data appeared first on theprimarymarket.com.