Fund manager says inflation ‘probably’ has peaked
After US wholesale and consumer inflation came in weaker-than-expected over the past week, we may have seen a peak in price increases, according to Dan Avigad, partner and portfolio manager at Lansdowne Partners.
“Inflation has peaked, probably, and will probably start to decline. I think the real question is the timing of that versus the slowdown in the real economy and the impact of these two countervailing forces on stock markets over the next six years,” Avigad told CNBC’s Jomana Persic at the Sohn London conference. investment on Wednesday.
“There is an argument that if the stock and bond markets rallied strongly, it amounts to an easing of financial conditions much earlier in the cycle than what central banks want to see.”
– Elliott Smith
Stocks on the move: Billerud down 6%, Saab up 5%
Shares of Swedish pulp and paper maker Billerud fell more than 6% in early trade to the bottom of the Stoxx 600 after Jefferies downgraded the stock to “underperform” from “hold.”
On top of the index, shares of the aerospace and defense company, Citizenship Saab, rose 5%.
UK inflation hit a 41-year high of 11.1% as food and energy prices continue to rise
UK inflation jumped to a 41-year high of 11.1% It beat expectations in October as food, transportation and energy prices continued to weigh on households and businesses.
“Estimates of typical consumer price inflation indicate that the CPI rate was higher in October 1981 when the estimate for the annual inflation rate was 11.2%,” the Office for National Statistics said.
On a monthly basis, the CPI increased by 2% in October, matching the annual CPI inflation rate between July 2020 and 2021.
– Elliott Smith
Biden says it is “unlikely” that the missile that killed two people in Poland was launched from Russia
US President Joe Biden said that An “unlikely” missile, which killed two people in Poland, was fired from RussiaCiting the trajectory of the missile.
Asked by a reporter if the missile was launched from Russia, Biden said: “There is preliminary information that disputes that, I don’t want to say that until we investigate fully.”
He went on to say, “It’s unlikely … in the minds of the track, that it was launched from Russia. But, we’ll see.”
Biden reiterated that the G7 leaders had agreed to support the ongoing investigation into Dossier Explosion.
“We agreed to support Poland’s investigation into the explosion in rural Poland near the Ukrainian border. I will make sure to find out exactly what happened,” he told reporters on the sidelines of the G20 summit in Bali, Indonesia. .
– Jihe Lee
The World Bank says Russia is “ruining its own future” with the Ukraine war
World Bank President David Malpass said Russia is harming its future by continuing the war on Ukraine.
“It weakens Russia, makes them pariahs, and in fact destroys their future,” he said. I have been hurt by what Russia is doing to itself and its people.”
In response to a question about the latest developments regarding a Russian-made missile that killed Polish citizens, Malpass said: “I don’t want to speculate about missiles, but regarding the G20 [goes]There was unity and broad unity of the G20 countries against the war.”
– Jihe Lee
CNBC Pro: Analysts believe these EV-related stocks in the lithium supply chain could be a winner
Goldman Sachs says the peak in battery metal prices is approaching.
Given this look, CNBC Pro checked out a dossier Global X Lithium & Battery Tech ETF for stocks related to electric vehicle makers that could provide opportunities for investors.
These stocks are expected to post growth for the full year in 2023, are rated Buys by the majority of analysts who cover them, and have an average upside potential of at least 20% over the next 12 months.
over here .
– Xavier Ong
CNBC Pro: These Biotech Stocks Look Cheap—And Analysts Give 2 Over 100%
Fundstrat said that some biotech stocks are worth watching and that the subsector is currently the strongest in the health industry.
Mark Newton, head of technical strategy at research firm Fundstrat, said the sector is “a key part of the reason healthcare is likely to emerge strong in the fourth quarter.” [fourth quarter] ”, according to a note on November 14.
To identify biotech stocks that look cheap and are expected to rise in the future, I checked CNBC Pro iShares Biotechnology ETF on FactSet. Here are 8:
CNBC Pro subscribers can read more here.
– Wizen tan
CNBC Pro: The Fed’s “pivot” is dead, says the strategist, who shares where to invest now
The idea that the Fed’s hawkish stance will benefit stocks is “dead,” says Fidelity.
Salman Ahmed, global head of macro and strategic asset allocation at the investment management firm, said he is concerned about the stock’s short-term performance and suggests an investor should consider a different asset class instead.
– Ganesh Rao
European Markets: Below are the opening calls
European markets are set to open lower on Wednesday as political instability prevailed in the region after a missile landed on Polish soil Wednesday, escalating tensions between Russia and NATO.
The UK’s FTSE is expected to open 31 points lower at 7,328, Germany’s DAX is down 121 points at 14,237, France’s CAC is down 48 points at 6,580, and Italy’s FTSE MIB is down 205 points at 24,405, according to data from IG.
Global markets will be watching developments in Ukraine after the massive missile strike across the country on Wednesday, and the missile’s fallout on Polish soil, though Moscow denies responsibility for the strike.
Earnings due to be released are from Alstom, Siemens Energy, Premier Foods, SSE, Experian and Man Utd and the data releases include the latest UK inflation figures for October.
– Holly Ellytt
“Lifelong food lover. Avid beeraholic. Zombie fanatic. Passionate travel practitioner.”