Daily summary: US stocks gain despite higher CPI data

7:02 PM 13 September 2023

- The macro event of the day was undoubtedly the U.S. CPI inflation reading, which, despite the higher indication, does not seem to have changed investors' expectations for the next FOMC meeting on interest rates. As a reminder, money market valuations currently give a 95% probability that the Fed will decide to keep interest rates at the same level.

- The European session ended in a relatively weak mood. Germany's DAX lost 0.4%, France's CAC40 lost 0.42% and the benchmark Euro Stoxx 50 index fell 0.46% on the day. 

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

- Wall Street's gains accelerated around the middle of the session. The Nasdaq is gaining 0.7% against a 0.4% rally in the S&P 500, but the Dow Jones is still trading unchanged for the day.

- U.S. equity market attention is focused on the automotive sector, with shares of Detroit-based conglomerates Ford (F.US), General Motors (GM.US) and are trading with elevated volatility amid ongoing negotiations with UAW.

- Chinese electric car manufacturers are performing poorly today, and are trading down as the EU looks to halt imports of cheaper cars from China, fearing a deepening crisis in European industry and a decline in the competitiveness of European concerns. Xpeng (XPEV.US) shares are losing more than 1.5%.

- American Airlines (AAL.US) and Spirit Airlines (SAVE.US) stocks are losing more than 3.5% in today's session as they cut their earnings forecasts in the face of higher costs (especially fuel costs). 

- In the FX market today, we saw relative strengthening of the New Zealand dollar and the Australian dollar. On the other hand, the Swiss franc and the Japanese yen performed poorly. Elevated volatility is taking place on the USDNOK. The British pound is in a precarious position in the face of both weak GDP data and strong wage growth (yesterday), creating an uncertain space for further BoE decisions. 

- The commodities market is dominated by declines. Natural gas loses nearly 2.5%, BRENT oil below $92 per barrel amid an unexpected rise in US hydrocarbon stocks.

- Cryptocurrencies are seeing renewed limited volatility, with Bitcoin failing to dynamically extend its upward momentum, still trading at $26,000.

 

Share:
Back
Xtb logo

Join over 1 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
test_cookie cc 25 January 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 30 May 2024
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
__hstc cc 7 March 2023
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language