Here are the top news, trends and analysis investors need to start their trading day:
Traders on the NYSE floor, January 10, 2022.
Source: New York SE
US stock futures edged higher on Wednesday after another hot inflation report. the Nasdaq on Tuesday gathered for the second session as Tech stocks continued to rally. The index rose 1.4% as bond yields stabilised, taking some pressure off growth-oriented stocks which appeared to have found a foothold after a difficult start to the new year. the S&P 500 rose nearly 1%, breaking a five-session losing streak. the Dow Jones industry average rose 0.5%, ending a four-session downtrend. The S&P 500 and Dow on Tuesday closed nearly 1.8% and 1.5% off their record closes last week, respectively. The Nasdaq closed 5.6% off its record close in November.
those of the government December consumer price index on Wednesday showed a 7% yoy rise, in line with estimates and the hottest rise since 1982. The core CPI, which excludes food and energy, rose 5.5% yoy, slightly higher than expected. the 10-year Treasury yield On Wednesday dropped to below 1.73% after the data and after rising to over 1.8% this year earlier this week.
Federal Reserve Chairman Jerome Powell speaks during his reappointment hearing before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, United States, January 11, 2022.
Graeme Jennings | Reuters
federal reserve Chairperson Jerome Powell, with a seemingly clear path to a second term at the helm of the central bank, explained On Tuesday, the US economy is healthy enough and needs tighter monetary policy to control inflation. That will likely mean raising interest rates this year, tapering monthly asset purchases and reducing the Fed’s balance sheet. Powell made the comments during his confirmation hearing, where key senators indicated they will support him for a second term.
A patient with coronavirus disease (COVID-19) lies intubated in his isolation room in the intensive care unit (ICU) at Western Reserve Hospital in Cuyahoga Falls, Ohio, the United States, January 4, 2022.
Shannon Stapleton | Reuters
Scientists see signals The fast-spreading Covid-Omicron variant may have peaked in the UK and could be ready to do the same in the US in South Africa. The influential model from the University of Washington expects the number of daily reported cases in the US to hit 1.2 million by Jan. 19 and then fall sharply. The latest seven-day average of daily new infections was 747,267, according to a CNBC analysis of data from Johns Hopkins University.
Students leave Darwin Elementary School in the Logan Square neighborhood of Chicago on Monday, January 3, 2022, the first day of school after the winter break for the Chicago Public Schools.
Brian Cassella | Tribune News Service | Getty Images
The White House increases Federal support for schools’ Covid tests to keep them open as Omicron variant rages across US month The aim is to alleviate supply bottlenecks and promote safety in schools. That’s on top of more than $10 billion spent on school-based testing allowed under the Covid Relief Act.