Markets are up after better than expected inflation report📈
Alibaba Can't Buy Some of ARM Chips
- Alibaba reported that it being unable to purchase some of ARM's most cutting-edge chip designs after the British semiconductor design firm concluded that the US and Britain would not permit the sale of the technology to Chsuree to export restrictions, $BABA apparently cannot purchase certain of Arm's cutting-edge semiconductor designs.
Source: Photo by tommao wang on Unsplash
Better Than Expected Inflation Report
- Another study on inflation indicates that it is moving in the right direction. The Producer Price Index (PPI) inflation report from last week, which again indicated a downward trend in inflation, followed the better-than-anticipated CPI results. There is still too much inflation, but the FED is still projected to decrease the pace of its rate hikes this afternoon, with rates expected to rise by just 50 basis points rather than 75 bps.
Other news:
- After outflows, the CEO of Binance tries to overcome customer fears.
- Russian crude oil was sold to India at a discount during a buyers' market
- US natural gas prices decline as temperatures don't reach the predicted lows.
- The top 3 cryptos have seen gains over the last 24 hours, despite the concerns over Binance.
- Sam Bankman-Fried: Charged in one of the "largest financial frauds" in US history.
No big surprise there since Q4 is usually the greatest quarter for stocks according to seasonal trends. One of the finest months for equities is December as the market is experiencing a favorable post-midterm effect.