Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.
Investors are currently focused on the December consumer inflation reading due Thursday and what it could mean for the chances of an easing in interest rates. But two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months.
Meanwhile, oil prices rose over 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.
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