US CPI inflation slowed to 3.1% in November, decelerating from 3.2% in October. 10 Year Treasury yield down slightly to 4.216%.
Bitcoin dropped over $4500 in the last couple of days afer hitting a high of $44729 in a sharp correction with no negative news. It is now trading near $41400. The sharp correction is bullish for further gains.
Oracle (ORCL) falls 10.5%% after Q2 revenue miss; Jefferies says execution risk is increasing. JP Morgan says Apple (AAPL -0.19%) told suppliers to build fewer iPhone 15s over the coming months. Alphabet (GOOG -0.71%) slips as Google loses antitrust case against Fortnite's maker Epic. RBC says a "crowded" rally in "Magnificent 7 "is "in need of a pause".
US stock market was down earlier and has now turn positive. After moving above its July high 4607 resistance, the S&P 500 is holding steady above that level this morning. The S&P 500's next two reistances are 4700 then 4818 all time high. Federal Reserve is to make decision on interest rate tomorrow and no hike is expected by the market. If there is no surprise during chairman Powell's speak after the meeting, the stock market is likely to continue with the year end rally.
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