Market Coverage: Tuesday December 14 Yahoo Finance finance market

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Markets edged lower Tuesday morning following declines in yesterday’s trading session as investors tune in for on a prolific week in Washington that includes the Federal Reserve’s final policy-setting meeting of 2021, set to commence today, and the release of new prints on retail sales, housing starts and other economic data.

All three major U.S. indexes were down at open after the Labor Department reported wholesale prices soared by a record 9.6% in November from a year earlier, the fastest annual pace on record for the indicator. The Dow shed 141.06 points, dipping 0.40% to 35,509.89. The tech-focused Nasdaq tumbled 217.32 points, down 1.39% to 15,413.28, and the S&P also underperformed, falling 0.79% to 4,632.09

Traders are awaiting a decision from the Fed on how quickly the central bank will tighten monetary policy amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department’s Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.

The Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members’ outlooks for economic conditions and interest rates is set to accompany the statement.

The Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.

“Because inflation expectations do appear to be adaptive, our view is that the longer inflation stays elevated, the greater the risk that consumers adjust their behaviors in a way that contributes to persistently elevated inflation” wrote PIMCO economist Tiffany Wilding in a recent note to clients.

“We believe the Fed will want to manage this risk by shortening the time over which it winds down its purchases of U.S. Treasuries and agency mortgage-backed securities (MBS), aiming to end the program in March 2022, while also signaling a June rate hike is likely,” said Wilding.

PIMCO managing director and portfolio manager Sonali Pier also separately told Yahoo Finance Live that the firm expects to see two hikes in 2022, three hikes in 2023, and potentially four in 2024, with the Fed trying to bring the policy rate to neutral.

“Amid proliferating signs of solid growth and a robust job market, various measures depict a deeply troubled economy,” wrote Oxford Economics senior economist Bob Schwartz in a new report. “Households are downbeat, according to sentiment surveys, and the so-called ‘misery index’ that adds together inflation and unemployment hovers around recession levels.”

Markets await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.

Meanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.

“It’s stunning to see how much the rate has fallen in the last five months,” Morgan chief U.S. economist Michael Feroli told Yahoo Finance Live. “We expect that pace of decline to slow, but it doesn’t take much to get below 4%, even with a tick up in the labor participation rate which has been depressed over the last year and a half.”

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Market Coverage: Tuesday December 14 Yahoo Finance
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4 comments

Nicolas Morales 15/12/2021 - 6:49 Chiều

< The Market Is Bad Right now. Everybody is Practically Crying. It keeps dipping. That's what you get when you feel you can navigate the process on your own. Big thank to Larysa Del. I'm not bothered with how bad the Market is because my assests are insured due to her advice and I still receive my profits>

Reply
Brews Willis 15/12/2021 - 6:49 Chiều

Markets have begun to crash. Thank Powell. More Market declines coming Wednesday after he speaks. The wheels have come off the Markets and Economy. This is good, declining markets and economy will help remove Brandon Biden and the Dems from office next elections.

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송다희 15/12/2021 - 6:49 Chiều

한국은..내게아무것도주지않는다.
혜택.서비스없고.은행문조차열어주지않는다.2021은모든것이물거품.
내자산보여주기만할뿐.실물은안준다..
여러분들의수고도전부물거품이되었고
나는한국이내게주지않는데
어떤돌파구도없다는거..
도와줘,백악관 에아무리도움요청해도.한국이안해주는건어쩔수가없다.,어떻게하지?

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Mavis Jabs 15/12/2021 - 6:49 Chiều

< Stay calm, thought we all got used to the ups and down of bitcoin, it hit ATH recently which made the price amazing for every early investors and will be back soon, it's just bouncing back to normal price for the rest of us which is good while for those who got in for the first time its otherwise. who hold the longest will profit the most. I trade and hold profits, keep up the great work !! Kevin Mikelsen has been doing a great job reviewing all chart signals, trade and techniques on BTC which has enhance the growth of my portfolio to 19 btc lately..

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