Japan’s core inflation notches over 40 year-high
The reading was in line with estimates from analysts polled by Reuters, and comes after notching 3.6% last month.
The reading remains above the Bank of Japan’s inflation target of 2%. Nationwide CPI for all items stood at 3.8%.
— Lee Ying Shan
CNBC Pro: Tech fund manager backs these 2 software stocks will outperform in a recession
Automation and cost-cutting at many businesses during a recession will drive up profits at two Silicon Valley companies, according to tech fund manager Jeremy Gleeson.
Gleeson, who manages a $1.5 billion tech fund at AXA, believes if there is a recession next year, then “companies are going to need to do more with less.”
“One of the ways they could do that is by utilizing technology better to enhance the productivity of their existing workforce,” he said and named the two stocks that will benefit from the trend.
— Ganesh Rao
Stocks close lower Thursday
Stocks closed lower Thursday, after pulling back from session lows, as year-end selling resumed on Wall Street.
The Dow Jones Industrial Average fell 348.99 points, or 1.05%, after falling as much as 803.05 points earlier in the session. S&P 500 declined 1.45%, while the Nasdaq Composite was 2.18% lower.
— Sarah Min
CNBC Pro: Buying Peloton and similar growth stocks is ‘absolute nonsense,’ says strategist
High-growth tech stocks are unlikely to rebound after a “pivot” on interest rates from the Federal Reserve, according to one market strategist.
— Ganesh Rao