SA: US CFOs’ top priority is cost-cutting amid economic uncertainty, survey finds
SEEKING ALPHA reports: With economic and geopolitical uncertainty lingering, finance chiefs in the U.S. have directed ...
SEEKING ALPHA writes:
November Consumer Price Index: +0.1% vs. +0.3% expected and +0.4% prior. That’s the lowest inflation rate in more than a year, indicating that the Federal Reserve’s aggressive rate-hiking moves are filtering through the economy to reduce demand.
Y/Y, CPI: +7.1% vs. +7.3% expected and +7.7% prior.
The energy index dropped 1.6% during the month as the gasoline index, the natural gas index, and the electricity index all fell. Meanwhile, the food index increased 0.5% during November.
Core CPI: +0.2% vs. +0.4% expected and +0.3% prior. That’s the smallest increase since August 2021.
Y/Y: +6.0% vs. +6.1% expected and +6.3% prior.
The largest contributor to the CPI index was for shelter, which more than offset decreases in the energy index, the U.S. Bureau of labor statistics said. The shelter index rose 0.6% during the month and is 7.1% higher than it was a year ago…
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US futures up between 2.4% (Dow) and 4.1% (Nasdaq Composite) on the news.
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