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☆ Stocks gain, yields fall after U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Still, a separate reading on the labor market showed weekly initial jobless claims came in at 205,000, below expectations of 215,000. Many market participants are looking for signs of weakness in the labor market as a key sign of slowing inflation. On Wall Street, equities were choppy after the data, with the S&P 500 falling as much as 0.8% before rebounding. "The fact that we have seen core inflation decelerate to 5.7% year-over-year, from 6% in November, reinforces the peak inflation argument." Crude prices rose in the wake of the data, getting an additional boost from optimism over China's emergence from its COVID-19 restrictions creating additional demand.

The Fed raised the key rate by 50 basis points in December, after four back-to-back 75-bps hikes, but also indicated a prolonged period of rate hikes to above 5% in 2023. Traders' bets of a 25-basis point rate hike by the Fed in February shot up to 89% after the inflation data, from 77% previously. Advancing issues outnumbered decliners for a 2.31-to-1 ratio on the NYSE and a 1.63-to-1 ratio on the Nasdaq. The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 39 new highs and 10 new lows. Reporting by Shubham Batra, Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ VIEW U.S. consumer prices fall in December
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +5 min

NEW YORK, Jan 12 (Reuters) - U.S consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and other goods, suggesting that inflation was now on a sustained downward trend. The consumer price index dipped 0.1% last month after gaining 0.1% in November, the Labor Department said on Thursday. MARKET REACTION:STOCKS: U.S. stock index futures fall after the inflation data BONDS: U.S. Treasury yields slid across the board. But I will note that it is an especially volatile period, which is not atypical for inflection points in market expectations and the broader macro outlook." BRIAN KLIMKE, INVESTMENT DIRECTOR, CETERA INVESTMENT MANAGEMENT LLC, LOS ANGELES"It (the report) came in as expected, but investors were somewhat optimistic leading into this reading, so that they were buying the rumor and selling the new.

☆ Russia Finds a New Target: Maps That Still Mark Crimea as Ukraine’s
▼ + stars: | 2023-01-12 | by ( Ann M. Simmons | Yuliya Chernova | ) www.wsj.com time to read: 1 min

MOSCOW—It could soon be an offense here to print any maps that don’t label Crimea and other parts of Ukraine as Russian territory. After waves of clampdowns and arrests, the Kremlin is again tightening the screws on any opposition to the war by backing a legislative amendment that would make it illegal to publish any maps that fail to mark as Russian land the peninsula and four other Ukrainian territories that Moscow says it annexed. Anyone who does could be fined up to 1 million rubles, or around $14,500, or spend 15 days in jail under proposals that have already received preliminary approval. Kremlin spokesman Dmitry Peskov told reporters Tuesday that although there are many questions about how to go about it, “it’s clear that all maps must be changed.”

☆ Stocks becalmed before potential CPI storm
▼ + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

European futures rose 0.4%. Bonds held overnight gains and the U.S. dollar was pinned near a seven-month low at $1.0769 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. U.S. Treasuries added a little to overnight gains, with benchmark 10-year yields down 3.7 bps to 3.5189% and 30-year yields down 4.4 bps to 3.6375%. Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.

☆ Prince Harry Book ‘Spare’ Sells Over 1.4 Million Copies in U.S., U.K and Canada on First Day
▼ + stars: | 2023-01-12 | by ( Jeffrey A. Trachtenberg | ) www.wsj.com time to read: 1 min

Prince Harry’s memoir sold more than 1.4 million copies in the U.S., Canada and the U.K. on its first day, a performance that publisher Penguin Random House said was the largest first-day sales total for any nonfiction book it ever published. The first day sales totals for “Spare” included preorders as well as sales of print books, digital books and audiobooks, Penguin Random House, a unit of Bertelsmann SE, said Wednesday. The publisher said it printed 2 million hardcover copies of “Spare” for the U.S., and that it has gone back to press.

☆ Asia stocks hit 7-month high on China and CPI bets
▼ + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.5% and touched an almost seven-month high. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. "We expect a below consensus CPI print, which if it materialises, could push this rally even further." Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.

☆ Some Olaplex users say their hair broke and fell out after using the TikTok-famous luxury hair brand. Experts question a connection to the products.
▼ + stars: | 2023-01-12 | by ( Allana Akhtar | Alex Bitter | Sindhu Sundar | ) www.businessinsider.com time to read: +14 min

Insider interviewed 10 former Olaplex users who voiced concerns about Olaplex on social media and in emails to Insider. Asked about the symptoms that the Olaplex users experienced, an Olaplex spokesperson told Insider: "We take each and every customer inquiry very seriously. Aftering switching to a drugstore brand of hair products, she said she saw an immediate reduction in hair loss. Keannia Johnson said her hair fell out and turned straw-like in texture after using Olaplex products. She started using Olaplex products in April.

☆ Jim Cramer's top 10 things to watch in the market Thursday: CPI matches, Peltz Disney fight
▼ + stars: | 2023-01-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

To be sure, though, the CPI print is good news, ending 2022 down 0.1% month over month and up 6.5% year over year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ December inflation data: Here's how it could move markets
▼ + stars: | 2023-01-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

"Like we saw following November's CPI report, markets rallied and then pulled back," Conzo explained. The central bank remains "worried about the overheating labor market," and the CPI report is "unlikely to quell those concerns." If the inflation data shows further cooling today, how does that impact your economic outlook for the year? Along with CPI data, investors are also bracing for the release of the number of US jobless claims. Coinbase stock price on Jan. 12, 2023 Markets Insider10.

They projected their key policy rate would top out at between 5.00% and 5.25% this year, up from a current 4.25%-4.50% rate. Market pricing indicates investors remain wedded to a more dovish view, with the policy rate peaking below 5% around mid-June before falling in the second half of the year. Rieder believes policymakers will raise rates by 25 basis points at the next two meetings, with further 25 basis point increases possible, depending on data. Investors in short-term options had priced in a much sharper move of about 2% going into Thursday's CPI print, according to data from market maker Optiver. Tiffany Wilding, PIMCO's North American economist, believes the Fed is likely to raise rates just two more times this year before pausing.

☆ 3D printing reaches new heights with two-story home
▼ + stars: | 2023-01-12 | by ( Evan Garcia | ) www.reuters.com time to read: +2 min

[1/4] A 12-ton industrial 3-D printer is used to print concrete for the first 3-D-printed, two-story home under construction in Houston, Texas, U.S., January 3, 2023. REUTERS/Evan GarciaHOUSTON, Jan 12 (Reuters) - A 3D printer is taking home building to a new level — literally. The project is a two-year collaboration by Hannah, Peri 3D Construction and Cive, a construction engineering company. “Traditional construction, you know the rules, you know the game, you know the material properties, the material behavior. “The material is new, although concrete is an old material in general, but 3D printing concrete is something new.”Read more:Scientists chip away at how ancient Roman concrete stood test of timeReporting by Evan Garcia; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Instant View: U.S. consumer prices fall in December
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +5 min

NEW YORK, Jan 12 (Reuters) - U.S consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and other goods, suggesting that inflation was now on a sustained downward trend. The consumer price index dipped 0.1% last month after gaining 0.1% in November, the Labor Department said on Thursday. MARKET REACTION:STOCKS: U.S. stock index futures fall after the inflation dataBONDS: U.S. Treasury yields slid across the board.FOREX: The dollar fell against the euro and yen. But I will note that it is an especially volatile period, which is not atypical for inflection points in market expectations and the broader macro outlook." BRIAN KLIMKE, INVESTMENT DIRECTOR, CETERA INVESTMENT MANAGEMENT LLC, LOS ANGELES"It (the report) came in as expected, but investors were somewhat optimistic leading into this reading, so that they were buying the rumor and selling the new.

☆ Commodity-linked stocks push FTSE 100 higher; retailers slide
▼ + stars: | 2023-01-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) gained 0.6% to hover near a more than four-year high scaled on Wednesday, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.9%. Retailers Tesco (TSCO.L) and Marks & Spencer (MKS.L) slipped between 0.3% and 1.6% despite strong sales, as both companies warned of inflationary pressures. Financial stocks were among the top gainers on the FTSE 100, with banks like HSBC (HSBA.L) and Barclays (BARC.L) rising 0.9% and 1.4%, respectively. The FTSE 100 has had a bright start to the year so far, rising in almost every session. Centrica (CNA.L) climbed to the top of FTSE 100, jumping 6.1% after the British Gas owner raised its full-year earnings forecast.

☆ Experts react to December's inflation report
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExperts react to December's inflation reportEdward Jones' Mona Mahajan, Conference Board's Dana Peterson, University of Michigan's Michael Strain, and Betsey Stevenson, former chief economist at the Labor Department, join 'Squawk Box' to share their opinions on December's CPI print.

☆ Cesar Conde consolidates power at NBC with network shakeup
▼ + stars: | 2023-01-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

New York CNN —On paper, Cesar Conde is the chair of NBCUniversal News Group. But on Wednesday he also appointed himself as the effective president of NBC News. But the NBCU News Group boss notably declined to select a single successor to oversee the sizable portfolio of Oppenheim. Leist will continue to oversee “Today” and Rodriguez will oversee “Nightly” and NBC News NOW. All three executives — Blumenstein, Leist, and Rodriguez — will report directly to Conde, making him the ultimate network boss.

☆ New inflation data on deck: What it means for the Fed
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew inflation data on deck: What it means for the FedCNBC's Steve Liesman joins 'Squawk Box' to discuss his expectations for today's CPI report, what the report means for year-over-year inflation rates, and whether or not the lag effects of monetary policy will be reflected in the print.

The U.S. aviation warning system that crashed for more than an hour Wednesday traces back its origins to ocean-faring ships and has been under continuous reforms for years, experts say. At least one aviation industry group has called for it to be replaced altogether. The Federal Aviation Administration grounded all flights blaming an unspecified failure in the Notice to Air Missions (NOTAM) system. The White House also said it saw no signs that the NOTAM system was taken down as a result of a cyberattack. “Once again, we get to see how antiquated and vulnerable the Notam system is!” he said.

NBC News’ longtime president, Noah Oppenheim, is stepping down but will stay with NBCUniversal to produce movies and scripted television shows, the company announced Wednesday. Rebecca Blumenstein, a deputy managing editor of The New York Times since 2017, will step into the new role of president of editorial, Conde said. “We are excited for his new chapter and that he will continue to work closely with NBCUniversal in this new role,” Conde said of Oppenheim. In addition, Janelle Rodriguez, who helped develop NBC News’ highly successful and profitable news streaming service, is joining the leadership team as executive vice president of NBC News NOW. “Under her leadership, NBC News NOW has been the largest and fasted growing streaming news network and provides more live programming than any other streaming news service,” the company said in a statement.

MUMBAI, Jan 11 (Reuters) - The Indian rupee may open slightly higher against the dollar on Wednesday, building on the previous day's momentum when it managed to move above important resistance levels, traders said. The rupee is tipped to open at around 81.66-81.70 compared with 81.7850 in the previous session. Yesterday, the rupee managed to scale multiple resistance levels that were there between 81.80 to 82.20, surprising most market participants, a spot trader at a foreign bank said. The rupee will simply be carrying yesterday's momentum at open, he added. Anil Bhansali, head treasury at Finrex Treasury Advisors, reckoned that after Tuesday's move, the new support levels for USD/INR are at 81.70 and 81.40.

☆ Entrepreneurs are charging up to $50,000 to preserve people's memories in books, films, and even holograms before they die as the personal-memoir business ramps up
▼ + stars: | 2023-01-11 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +7 min

Companies like The Family Film and Storyworth are capitalizing on this trend. One ghostwriting company is venturing into VR storytelling for luxury customers, charging $5,000. Andrew Gemmell, the founder of The Family Film. The Family Film charges $50,000 for an in-depth movie of a family's history. Social media, podcasts, and self-publishing platforms have also created ways for people to share their stories with a wide audience.

☆ How to start an online fashion store, from a Kentucky couple whose e-commerce business earned $65 million brand
▼ + stars: | 2023-01-11 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +9 min

Tori and Chris Gerbig launched Pink Lily, an online women's fashion store, in 2014 as a side hustle. In May 2021, the $65 million brand averaged 11,000 products sold on its site a day. "The easiest way that we've built up the brand is because I am a customer of the brand," Tori said. More recently, Pink Lily has benefitted from viral moments on TikTok with styling tips and influencer content. Buying out a style makes it a Pink Lily exclusiveIn May 2021, Pink Lily averaged 11,000 products sold on its site a day, which Insider confirmed through documentation.

☆ Virtual assistant, copywriter, and 6 other easy side hustle jobs to start right now
▼ + stars: | 2023-01-11 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +11 min

PaperDotInkDesigns sells handwritten prints and templates, and in 2021, Ashworth booked $2,494 in sales, which Insider verified with documentation. In 2021, her site generated $205,642 in ad revenue, which Insider verified with documentation. Be a virtual assistant for other business ownersAs more people start businesses, the market for virtual assistants has skyrocketed in tandem. In 2020, he made $34,607 in sales on the app, which Insider verified with documentation. He earned $40,648 on the app between December 2020 and August 2021, which Insider verified with documentation.

☆ The Wall Street Journal parent Dow Jones is laying off staff as it faces an economic downturn
▼ + stars: | 2023-01-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Layoffs are coming to The Wall Street Journal parent Dow Jones, according to people familiar with the situation. Layoffs are coming to The Wall Street Journal parent Dow Jones, according to people familiar with the situation, with one knowledgeable source saying the cuts amounted to less than 2% of staff. A Dow Jones spokesperson emailed a statement saying: "Dow Jones is focused on continuing to build on the momentum it has generated across its wide range of leading brands and platforms. The Dow Jones cuts come as the Journal has just appointed a new editor, Emma Tucker, from fellow News Corp. title The Sunday Times in London. This article was originally published on the morning of January 11 and has been updated to include Dow Jones' statement.

☆ Asia-Pacific shares set to open higher ahead of U.S. inflation report
▼ + stars: | 2023-01-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Pedestrians by the retail stores at Pitt Street Mall in Sydney, New South Wales, Australia, on Monday, Dec. 26, 2022. Asia-Pacific shares are set to trade higher as investors look ahead to the U.S. consumer price index, which would set the Federal Reserve's trajectory in its attempt to tackle inflation after raising rates seven times in 2022. Australia's S&P/ASX 200 rose 0.7% ahead of the release of its inflation print for November. Both are higher compared to the Nikkei 225's last close at 26,175.56. Overnight on Wall Street, major stock indexes closed higher as investors continued building on the new year's early rally.

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