MARKETS TODAY Dec 13 (Vica Partners) – Stocks rose after CPI reports showed inflation eased in November. All three U.S. indexes, finished in up heading into Wednesday’s Fed policy meeting. Brent and WTI crude oil jumped more 3% as the two day rally was driven by again by energy stocks. The top performing sectors today were Energy, up +2.01% and Communication Services +1.60%.
The S&P 500 (^GSPC) gained 0.73%, while the Dow Jones Industrial Average (^DJI) increased by 0.30%, or 104 points. The technology-heavy Nasdaq Composite (^IXIC) advanced by 1.01%.
Key Market Statistics
- S&P 500, Dow and Nasdaq all up today
- Top performing sector today was the Energy sector, rising 2.01%
- The Consumer Staples and Utilities sectors were the biggest laggards, up 0.28% and 0.61%
- Greed Index today was 61 (greed)
- 10-year Treasury yield slightly negative at 3.501%, the 2 year Treasury was also with a slightly negative yield at 4.224%
- US. Dollar Index (DXY) to $104.01, down 1.07%
- Bitcoin at $17,780 up 3.34% and Gold at $1809.39, up 1.53%
- Oil prices over 3% and continue to rise this week, Brent crude currently at $80.68, and US West Texas Intermediate currently at $75.17
Consumer prices rose less than expected in November, up 7.1% from a year ago easing inflation concerns
The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department reported Tuesday. Economists had been expecting a 0.3% monthly increase and a 7.3% 12-month rate.
While Core CPI rose 0.2% on the month and 6% on an annual basis, compared with Economist’s estimates of 0.3% and 6.1%.
November consumer price data out today supports smaller Fed rate hike
Investor can expect a half-percentage-point increase at the Fed policy Dec. 13-14 meeting, the central bank will have lifted its overnight policy rate from near zero as of March to the 4.25%-4.50% range.
Vica Momentum Stock Report
Consol Energy NYSE (CEIX) (Grade A) 50 Day Average +3.57%, 100 Day Average +27.07%, 200 Day Average +132.28%, Year to Date +214.41%.
CONSOL Energy Inc. is a producer and exporter of high-Btu bituminous thermal and crossover metallurgical coal. It owns and operates operations primarily in the Northern Appalachian Basin.
Market Outlook and updates posted on at vicapartners.com
