Wall Street Today | JPMorgan's Trading Desk Sees S&P 500 Rallying Up to 10% on Soft Inflation Data

Moomoo Recap US wrote a column · Dec 13, 2022 08:19

Wall Street Today | JPMorgan's Trading Desk Sees S&P 500 Rallying Up to 10% on Soft Inflation Data

MACRO

JPMorgan's Trading Desk Sees S&P Rallying Up to 10% on Soft Inflation Data

With equity investors defensively positioned, a soft reading in Tuesday's consumer price index could spark a powerful rally — with the S&P 500 jumping as much as 10%. That's the bold forecast from JPMorgan Chase & Co.'s sales and trading desk.
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New York Fed Finds 1-Year Inflation Expectations at Lowest Since 2021

US household expectations for inflation in the year ahead fell last month to the lowest level since August 2021, according to a Federal Reserve Bank of New York survey.

Households in November said they expected inflation to be 5.2% over the coming 12 months, down from 5.7% the month before, according to results of the New York Fed's monthly Survey of Consumer Expectations published Monday.

SECTORS

Oil Traders Pump a Record $500 Million Into One Fund as Prices Plunge

One oil exchange traded fund pulled in a giant amount of cash last week as some investors piled into the market during its worst rout in months. WisdomTree's Brent Crude Oil ETP — ticker BRNT — attracted a weekly record of about $500 million, almost tripling the fund's assets to more than $700 million.

Investors Are Losing Faith in Cathie Wood's ARK Innovation

Investors heeding a "buy the dip" rallying cry poured money into the Cathie Wood's $ARKK.US$ in each of the first five months of the year—a net $1.89 billion—as markets tumbled. Since then, their enthusiasm has waned. They pulled money in three of the next six months, or a net $76.5 million, according to FactSet. On Nov. 30 alone, they yanked $146 million, which was among the largest single-day outflows of the year.

COMPANY

Oracle Beats on Top and Bottom Lines

$ORCL.US$ shares rose as much as 2% in extended trading on Monday after the software company reported results for the fiscal second quarter that topped analysts' estimates. But it provided a lighter earnings forecast than analysts had predicted.
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Microsoft Buys Stake in London Stock Exchange

$MSFT.US$ will take a 4% stake in the London Stock Exchange's corporate parent and help shift the exchange's financial data and trading platforms to the cloud, in a deal that reflects the growing use of data and tech in global finance.

Goldman to Cut Hundreds More Jobs as Consumer Unit Scaled Back

The bank is drafting plans that could eliminate at least 400 positions from its loss-making retail banking operations, according to people familiar with the matter. $GS.US$

Twitter Blue Service Is Back, Including 'Verified' Check Marks

$TWTR.US$ resumed selling its Twitter Blue premium offering, which gives users a blue verification badge by their names, following a weeks-long pause because some subscribers were using the paid service to impersonate well-known accounts.

Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance

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