Financial News Summary 26 Jan 2024

Today's news features critical economic indicators and market trends, including inflation gauges, treasury yields, and commodity prices in a global context.

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Financial Markets and Inflation

  • Federal Reserve's Inflation Gauge: Reports indicate a 0.2% rise in December, with an annual increase of 2.9%, suggesting modest inflationary pressures in the US economy.

  • Treasury Yield Stability: The 10-year Treasury yield holds steady at around 4.14% after positive inflation reports but shows signs of pulling back post GDP data that indicates slowing inflation with strong economic growth.

Commodity Markets and Regional Market Trends

  • Commodity Price Pressures: A 'super squeeze' in commodities forecasting higher prices to stay, while uranium prices may surpass 16-year highs due to shortages.

  • Interest Rate Hikes in Turkey: As inflation nears 65%, Turkey raises rates to 45%, adding volatility within the currency markets.

Stock Market and Investment Strategies

  • Overbought Chip Stocks: Analysis suggests leading stocks like Nvidia might be set for a correction.

  • Tesla's Shares & Investor Preferences: JPMorgan's outlook includes a potential drop for Tesla, while investor preferences show a shift towards certain bond funds.

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