Daily Report 16.11.2022
Objavljeno: 16. 11. 2022

S&P 500 closes higher after another lighter-than-expected inflation report, Nasdaq jumps 1.4%; European markets climb as another report suggests cooling U.S. inflation 
Stocks resumed their inflation-driven rally on Tuesday after another report signaled that price increases could be slowing. The Dow Jones Industrial Average ended the day up 56.22 points, or 0.17%, at 33,592.92. The S&P 500 advanced 0.87% to 3,991.73, and the tech-heavy Nasdaq Composite gained 1.45% to close at 11,358.41. 
The major averages rallied after the producer price index, a measure of wholesale inflation, showed a 0.2% increase for the month of October, versus the consensus estimate for a 0.4% increase from Dow Jones. The report comes after last week’s consumer price index data showed signs of inflationary pressure abating last month, sparking a sharp rally. 
Elsewhere, retail stocks also lifted investor sentiment. Walmart shares jumped after the company beat Wall Street earnings and revenue estimates and boosted full-year guidance. Home Depot reported strong results too but kept guidance in place for the full-year. Its shares rose slightly. 
Taiwan Semiconductor, Louisiana-Pacific and Paramount also jumped after regulatory filings showed that Warren Buffett’s Berkshire Hathaway had bought new positions in the first two, and raised its stake in the last. 

The pan-European Stoxx 600 was up 0.2% by mid-afternoon, gaining on the back of the U.S. data release, with technology stocks adding 1.4% while telecoms fell 1%. 
Shares of French call center company Teleperformance climbed more than 8% by mid-afternoon to lead the Stoxx 600 after Citigroup upgraded the stock to “buy” from “neutral.” 
At the bottom of the index, Danish health care equipment company Ambu plunged more than 17% after reporting a quarterly loss. 
Source: CNBC, Investing.com