US December CPI exceeds expectations, but hopes for early interest rate cut do not subside; virtual currency-related stocks continue to fall on the first day of Bitcoin ETF trading | 12th Financial Tankan

1/12 (Friday) morning market trends (compared to the previous day)

traditional finance

• NY Dow: 37,711 +0.04%
• Nasdaq: 14,970 +0.003%
• Nikkei average: 35,049 +1.7%
• USD/JPY: 145.40 -0.1%
• Gold futures: 2,033 +0.26%
• NVIDIA: $548.2 +0.87%
• Apple: $185.5 -0.3%

Today’s NY Dow and Nasdaq are slightly higher. There was limited reaction to the CPI release last night.

The US December CPI, which was scheduled to be announced last night, exceeded expectations for both the composite index and the core index, but in the short-term money market, expectations for an early start to interest rate cuts by March remain unchanged at around 70%. Inflation growth rate accelerated slightly in December, but there is a view that the labor market remained strong throughout the year and that inflation eased significantly from 2022, which is the basis for the Fed to cut interest rates this year. many.

While housing costs, electricity costs, and car insurance rose in December, prices of goods flattened out after six consecutive months of decline.

• Overall month change: Result 0.3% Previous +0.1% Forecast +0.3%
• Overall year-on-year change: Result 3.4% Previous +3.1% Forecast +3.2%
• Core month change: Result 0.3% Previous +0.3% Forecast +0.3%
• Core year-on-year change: Result 3.9% Previous +4.0% Forecast +3.8%

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Today’s main market materials are as follows:.

• Nippon Steel’s plan to acquire US Steel may take a year to reach a conclusion
• US Treasury yields fall despite slightly stronger CPI
• Nikkei Stock Average returned to its highest level since February 1990 during the bubble period on the 11th, with semiconductor stocks rising prominently

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Important economic indicators/events from this week onwards

• 1/12 (Fri) 22:30 US December PPI (Wholesale Price Index)
• 1/17 (Wed) 22:30 US December retail sales
• 1/25 (Thu) 22:30 U.S. 4th quarter real GDP

connection:
Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

Cryptocurrency-related stocks sell back intensified

• Coinbase｜$141 (-6.7%)
• MicroStrategy | $536 (-5.2%)
• Marathon Digital Holdings | $22.4 (-12.6%)

After the SEC approved all 11 Bitcoin ETFs for the first time yesterday, crypto-currency-related stocks rose sharply on the 11th, but then rebounded and fell sharply.

connection: “Bitcoin could rise to 72.8 million yen in 5 years,” famous analyst Tom Lee predicts the price

Virtual currency market

• Bitcoin: $46,427 -0.7%
• Ethereum: $2,618 +1.0%

connection：“Bitcoin could rise to over 200 million yen by 2030” ARK CEO Wood

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In addition to important news about virtual currencies, you can also see at a glance exchange information such as the dollar yen and price movements of crypto asset-related stocks in the stock market such as Coinbase.

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https://t.co/9g8XugH5JJ pic.twitter.com/bpSk57VDrU

— CoinPost (virtual currency media) (@coin_post) December 21, 2023

The post US December CPI exceeds expectations, but hopes for early interest rate cut do not subside; virtual currency-related stocks continue to fall on the first day of Bitcoin ETF trading | 12th Financial Tankan appeared first on Our Bitcoin News.