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Author: Dhirendra Tripathi
Investing.com – Shares rose on Wednesday to keep investors from hanging on to inflation data to show that prices have risen the most in the last 40 years.
For the most part, inflation expectations are already reflected in the market. The Federal Reserve is unlikely to act more aggressively than it has already indicated given the December figure, which largely met its expectations.
Inflation has also slowed slightly since November, when South African scientists first told the world about Covid’s Omicron variant, and since then it has set a record rise in cases worldwide, especially in the US.
According to the Department of Labor, its consumer price index rose by 0.5% in the last month, after rising by 0.8% in November.
“I don’t see this as disturbing the markets because higher inflation was expected,” said Peter Cardillo, head of market economics at Spartan Capital Securities.
The Nasdaq was particularly strong, rising 0.4% and rising 3% and 1%, respectively.
The earnings season officially begins on Thursday, and a bunch of big banks are ready to announce their results on Friday. Here are three things that could affect the markets tomorrow:
1. TSMC earnings
Taiwan Semiconductor Manufacturing (NYSE 🙂 will declare its fourth quarter numbers on Thursday. The chip maker is expected to make a profit of $ 1.12 per share, with revenue of $ 15.65 billion, according to analysts at Investing.com. Analysts will hear comments on the chip sector’s forecasts after being hampered by a global manufacturing shortage last year.
2. Delta earnings
Delta Air Lines Inc (NYSE 🙂 posted revenue of $ 8.8 trillion in the fourth quarter and a profit of 11 cents per share. Analysts will be listening to the company’s travel forecasts amid a rise in coronavirus cases that have slowed its reopening. The weather has also reduced some flights in recent weeks.
3. Producer inflation
Wholesale price inflation is expected to rise 0.4% month-on-month in December. It rose 0.8% in November, according to analysts at Investing.com. Data are released at 8:30 p.m.
–Investing.com staff and Reuters contributed to this report
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