Japan’s core inflation notches over 40 year-high
Japan’s core consumer price index rose 3.7% in November on an annualized basis, marking the fastest pace since December 1981, when it rose by 4%.
The reading was in keeping with estimates from analysts polled by Reuters, and comes after notching 3.6% last month.
The reading stays above the Bank of Japan’s inflation goal of two%. Nationwide CPI for all items stood at 3.8%.
— Lee Ying Shan
CNBC Pro: Tech fund manager backs these 2 software stocks will outperform in a recession
Automation and cost-cutting at many businesses during a recession will drive up profits at two Silicon Valley firms, in accordance with tech fund manager Jeremy Gleeson.
Gleeson, who manages a $1.5 billion tech fund at AXA, believes if there’s a recession next yr, then “firms are going to want to do more with less.”
“One among the ways they may do this is by utilizing technology higher to boost the productivity of their existing workforce,” he said and named the 2 stocks that may profit from the trend.
CNBC Pro subscribers can read more here.
— Ganesh Rao
CNBC Pro: Buying Peloton and similar growth stocks is ‘absolute nonsense,’ says strategist
High-growth tech stocks are unlikely to rebound after a “pivot” on rates of interest from the Federal Reserve, in accordance with one market strategist.
CNBC Pro subscribers can read why Peter Toogood, chief investment officer at Embark Group, also believes stocks reminiscent of Peloton are an “absolute nonsense” trade for investors.
— Ganesh Rao
Stocks close lower Thursday
Stocks closed lower Thursday, after pulling back from session lows, as year-end selling resumed on Wall Street.
The Dow Jones Industrial Average fell 348.99 points, or 1.05%, after falling as much as 803.05 points earlier within the session. S&P 500 declined 1.45%, while the Nasdaq Composite was 2.18% lower.
— Sarah Min