U.S. stocks opened lower on Thursday (Oct. 13) after the latest U.S. inflation data, with an initial massive market sell-off followed by a strong technical rebound.
Driven by the rally in the U.S. stock market, Asia-Pacific stocks opened cheerfully on Friday (Oct. 14), with Japanese stocks jumping 2.26%, while South Korean and Australian stocks rose 1.8% and 1.68%, respectively.
Morning news for Singapore stocks:
1. $SINGAPORE AIRLINES LTD(C6L.SI)$
2. ESR-Logos REIT secured a JPY7.1 billion (approximately S$69 million) loan facility to finance acquisitions and for general working capital purposes.
3. $STAMFORD LAND CORPORATION LTD(H07.SI)$ issued a profit warning after the market closed, stating that the Group expects to suffer a loss in the first half of FY2023 due to a loss in the fair value of its investment properties in London, UK, and foreign exchange losses.
Overnight U.S. Stocks | Dow shakes 1500 points in one day, energy and bank stocks lead gains, U.S. CPI data burst leads to multiple analysis
1. When will the fever subside? U.S. core CPI in September to a new 40-year high! The Fed's aggressive rate hike adds new evidence.
The newly released data shows that the U.S. core inflation indicators in September hit a new high of more than 40 years. According to data released by the U.S. Department of Labor on the 13th local time, the U.S. Consumer Price Index (CPI) rose 0.4% quarter-on-quarter in September, higher than the expected value of 0.3%; CPI rose 8.2% year-on-year in September, the expected value of 8.1%, the previous value of 8.3%. Excluding volatile food and energy prices, the U.S. September core CPI rose 0.6% YoY, higher than the expected value of 0.4%, unchanged from the previous value; September core CPI jumped 6.6% YoY, the largest year-on-year increase since August 1982, higher than the previous value of 6.3%.
2、Major Bank Ratings
Piper Sandler: Lowered Travere Therapeutics (TVTX.US) price target to $38 from $39
Evercore ISI: raised target price for $Tesla Motors(TSLA)$
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