美帝股评 US Market Summary 20230112

*US shares close higher for second straight day ahead of CPI report*

*12 January 2023*
Nasdaq 100 Index 11402.52, (1.76%)↑
S&P 500 Index 3969.51, (1.28%)↑
Dow Jones Indus Avg Index 33973.01, (0.8%)↑

US equities rose as investors continue betting that today's CPI report will bolster the case for a Fed downshift. The *10-year Treasury yield* declined to around 3.55%. *Oil prices* rose on optimism over China's demand outlook despite a surprise US stockpile build of 19 million barrels. All 11 sectors closed in the green, with *Real Estate* and *Consumer Discretionary* leading shares higher. The *VIX (+1.75%)* climbed to 20.94.

Banks look to kick off the *Q4 earnings season*, with *Bank of America, Citigroup, JPMorgan, and Wells Fargo* set to release their earnings results on Friday. Elsewhere, a *system issue forced the Federal Aviation Administration to impose a 90-minute halt to all US departing flights*. This delayed thousands of flights and impacted as many as 2M passengers, although normal air traffic operations "gradually" returned to normal. Looking ahead, All eyes will be on *today's CPI data scheduled to be released at 21:30 Singapore Time*. The *Headline CPI* is estimated to decrease to 6.5% from 7.1%, while *Core CPI* is expected to moderate to 5.7% from 6.0%.

Mega-cap stocks *Microsoft (+3.02%), Alphabet (+3.51%), and Amazon (+5.81%)* rallied amidst renewed bullish sentiment on stocks. *Apple (+2.11%)* is reportedly looking to move components in-house and reduce dependency on external suppliers. *Tesla (+3.68%)* gained after it announced plans to expand its EV factory in Texas. *Intuitive Surgical (-4.13%)* plunged after a 4% YoY decrease in placements of its Da Vinci robot in Q4. *Bed Bath & Beyond (+68.6%)* surged despite poor quarterly results and a potential bankruptcy filing. Other meme stocks were also on the rise, with *AMC (+21.18%)* and *Gamestop (+7.15%)* both up. After hours, *KB Home (-2.73%)* dropped after missing top and bottom line estimates.