To The Moon

Investors Evaluate Inflation Data, Market Volatility Increases

🇺🇸 S&P 500 Index: +0.03% 📈

🇺🇸 Nasdaq: -0.26% 📉

🇪🇺 STOXX 600 Index: -0.13% 📉

🇯🇵 Nikkei 225 Index: -1.66% 📉

🇭🇰 Hang Seng Index: -0.12% 📉

🇨🇳 CSI 300 Index: +0.63% 📈

🇸🇬 Straits Times Index: +0.25% 📈

U.S. Stock Market Mixed: The S&P 500 $S&P 500(.SPX)$  Index rose by 0.03%, while the Nasdaq  $NASDAQ(.IXIC)$  dropped by 0.3%. This follows October's consumer price data, which met expectations and further supported the expectation that the Federal Reserve will cut interest rates in December.

Chinese Stock Market Performance Mixed: The Hang Seng Index $HSI(HSI)$  fell by 0.1%, while the CSI 300 $CSI300(000300.SH)$  Index rose by 0.6%. Shares of major tech and automotive companies continue to face downward pressure.

💡 Upcoming Events: 💡

Thursday: U.S. PPI month-over-month, U.S. jobless claims, Eurozone Q3 GDP preliminary, and European Central Bank monetary policy meeting minutes will be released.

Friday: U.S. core retail sales month-over-month, EU economic forecast, China industrial production YoY, China retail sales YoY, China unemployment rate, Japan Q3 GDP preliminary will be released.

💡 Things to Know Today: 💡

1. In October, the U.S. Consumer Price Index (CPI) increased by 0.2% month-over-month, marking a fourth consecutive month of gains, and rising 2.6% year-over-year. Core CPI (excluding food and energy) increased by 0.3% YoY, in line with economists' expectations.

CPI

2. The Republican Party maintains a slim majority in the U.S. House of Representatives, giving Donald Trump and his party control of the elected branches of government, reducing potential constraints on a new president's power.

Republican majority in the house

3. Tencent Holdings $TENCENT(00700)$  reported an 8% rise in third-quarter revenue, reaching 167.19 billion yuan (approximately 23.14 billion USD), driven by growth in gaming, advertising, and cloud services.

Tencent

4. According to founder and chairman Robin Zeng, if Donald Trump is elected president, he will allow Chinese investments in the electric vehicle supply chain. As a result, global battery giant CATL is willing to build a factory in the U.S.

Robin Zeng

5. Bain & Company reports that global personal luxury goods sales are expected to decline by 2% this year, marking one of the worst performances in the industry's history. This decline is attributed to rising prices and economic uncertainty, which have reduced the customer base.

Bain & Company

✅ Key Takeaway:

Republican control of Washington next year will enable President-elect Donald Trump to push through a pro-tax-cut agenda.

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