Financial News Summary 26 Jan 2024

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.

References

1. https://www.cnbc.com/markets/
2. https://finance.yahoo.com/
3. https://www.marketwatch.com/
4. https://www.ft.com/markets