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Your daily horoscope: December 5, 2024

  HOROSCOPES IF TODAY IS YOUR BIRTHDAY Friends and colleagues will look to you for guidance this year and you must be ready and willing to give it to them. You may not think of yourself as a leader or a guru but others can sense you know things that they do not – and they’re right. ARIES (March 21 - April 20): Start off slow today and allow events to carry you along at their own natural speed. As the first sign of he zodiac you have a tendency to want to be ahead of everyone else but sometimes, as now, it makes sense to pace yourself. TAURUS (April 21 - May 21): There is a lot going on behind the scenes at the moment but there is no reason to believe that any of it will be bad for you. The message of the stars is to stay sharp but not to the extent that you are constantly on edge. GEMINI (May 22 - June 21): It may be hard to decide what you should be doing while Mercury is moving through its retrograde phase but why do you feel you have to make that decision? Cosmic activity in you...
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Wall Street Takes a Breather Ahead of Key Inflation Update and Earnings Season Kickoff

 


Wall Street exhibited a subdued demeanor today as investors awaited crucial economic indicators. The week ahead promises a double whammy: the latest U.S. inflation report and the commencement of earnings season. Here’s a snapshot of today’s market activity:

Market Overview

  • Asian Shares: Asian markets mostly rose, with investors keeping a close eye on earnings reports from global giants. The Nikkei 225 in Japan surged 1.3% to 39,505.33, while Sydney’s S&P/ASX 200 gained 0.3% to 7,798.10. South Korea’s Kospi also rose 0.3% to 2,723.54. Hong Kong’s Hang Seng added 0.8% to 16,856.06, and the Shanghai Composite remained relatively stable, inching up less than 0.1% to 3,071.13.

Key Factors

  1. U.S. Inflation Update: Investors are closely monitoring the upcoming U.S. consumer price index (CPI) report. The CPI serves as a gauge for inflation, and any surprises could sway market sentiment.

  2. Strong Jobs Report: Last week, Wall Street rallied after a robust U.S. jobs report. Employers added an unexpectedly strong 303,000 workers to their payrolls in March. This positive employment data has fueled consumer spending and overall economic growth.

  3. Treasury Yields: Following the jobs report, Treasury yields climbed. The 10-year Treasury yield rose to 4.40%, reflecting concerns about inflation. The Fed’s benchmark interest rate remains at its highest level in two decades due to historic rate hikes aimed at taming inflation.

  4. Energy Prices: Analysts note that energy prices have been on the rise. While this is a sore point for oil-importing economies like Japan, signs of economic recovery worldwide are expected to boost energy consumption.

Market Performance

  • The S&P 500 made a strong comeback, rising 1.1% and approaching its record high set last week.
  • The Dow Jones Industrial Average climbed 0.8%.
  • The Nasdaq Composite surged 1.2%, with technology companies leading the charge.

As we brace for the inflation report, Wall Street remains cautiously optimistic. The delicate balance between economic growth and inflation control will be in focus. Stay tuned for further market developments as earnings season kicks off.

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