Inflation Data Takes Spotlight Before the Bell

Jobless claims remain low as well

Deputy Editor
Jan 12, 2023 at 9:22 AM
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Investors are busy unpacking this morning's highly-anticipated inflation data, after December's consumer price index (CPI) dropped 0.1%, compared to November's 0.1% gain, marking the largest month-over-month decrease since April 2020. Year-over-year, CPI rose 6.5%, though this number represents the smallest annual increase since Oct. 2021. Meanwhile, jobs data came in at 205,000 for last week.

Stock futures have been volatile after the event, but at last check are capturing gains. The Dow Jones Industrial Average (DJIA) is up triple digits in electronic trading, while futures on the S&P 500 Index (SPX) and Nasdaq-100 (NDX) hold modest gains of their own.

Continue reading for more on today's market, including:

New Futures Jan12

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts and over 1 million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.70 and the 21-day moving average stayed at 0.80.
  2. American Airlines Group Inc (NASDAQ:AAL) is up 5.5% premarket, after the company raised its fourth-quarter revenue forecast due to and increase in pricing and travel demand. Should these gains hold, AAL will be on track for its 10th consecutive daily win, and trading at its highest levels since June. 
  3. Logitech International SA (NASDAQ:LOGI) is plummeting before the bell, down 17.1%, after its weak fiscal third-quarter report and slashed outlook. Plus, Wedbush downgraded the stock to "neutral" from "outperform," with a price-target cut to $60 from $70. 
  4. The shares of Cinemark Holdings Inc (NYSE:CNK) are up 1.8% in electronic trading, after J.P. Morgan Securities upgraded the movie chain to "overweight" from "neutral." The firm sees an attractive entry point for CNK as the equity pulls back from its early December peak. Year-over-year, the equity is down 44.2%. 
  5. Thing are picking back up today, with the aforementioned CPI and core CPI on tap, as well as weekly initial and continuing jobless claims, and the Federal budget. 


Stocks Higher in Asia, Europe

Asian markets closed in positive territory today, ahead of the CPI release stateside. Hong Kong’s Hang Seng added 0.4%, leading the gainers after property consultant Colliers Hong Kong said China’s reopening could bolster recovery in the property market in 2023. China’s Shanghai Composite, meanwhile, added 0.1%, despite data from the National Bureau of Statistics showing inflation in the country accelerated 1.8% in December. The Japanese Nikkei was essentially flat, after the country’s central bank said it will review the side effects of monetary easing at its policy meeting next week, while South Korea’s Kospi jumped 0.2%.

Across the pond, The Europe Stoxx 600 (SXXP) hit 450.19 this morning, putting stocks in the region at their highest level since April 2022. The auto, bank, retail, and telecom sectors are all trading higher. At last glance, France’s CAC 40 is 0.9% higher, while the German DAX and FTSE 100 in London are both up 0.8%.



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