The NVDA is the highest price in history every day, and the December CPI was announced on the 11th — will the 4% break in the core price index be a factor in stock price increases?
As for US stocks on January 9, the NASDAQ index rose by about 0.1% while the NY Dow fell by 0.4%.
NVDA is updating its all-time high every day. The high price reached the 543 dollar range during trading hours on the 9th. The high price of $522 was drastically changed on the 8th. The total market value has exceeded 1.3 trillion dollars. We have reached a level where we are aware of Amazon (in the 1.50 trillion dollar range).
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The consumer price index (CPI) for December will be announced on the 11th US time. Actually, in the last 2 months, US stocks have been trending higher after the consumer price index was announced.
The last time the November Consumer Price Index was announced was on December 12. The rise in the Nasdaq index accelerated from the same day. The NASDAQ index recorded 9 consecutive gains from December 7 to 19.
US stocks also rose when the October CPI was announced on November 14. At this time, the slowdown in the inflation rate in CPI became the starting point of the rise in stock prices, and the NASDAQ index rose 5 times in a row from the 14th to the 20th, and the cumulative rate of increase recorded 3.7% during that time.
When the CPI was announced in November and December last year, the US stock market took the slowdown in price increases as a sign of a change in monetary policy, and used it as a reason to buy stocks. This time, attention is being paid to the stock price reaction to the December CPI. The actual values for the November CPI were +3.1% for the overall compared to the same month last year, and +4.0% for the core.
In the December CPI, attention is being paid to whether the core price index will be divided by 4%.
If details showing a slowdown in price increases are revealed this time as well, the focus is on whether this will once again function as a source of stock appreciation. Attention is being paid to whether it will continue to be a source of buying, or whether the slowdown in price increases was factored in as a material.
Radio NIKKEI commentator Kamata Shinichi
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