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Squawk on the Street
SOTS 2nd Hour: Nov. CPI Print, Grocery Deal Denied, Apple's AI Strategy, 12/11/24
Dec 11, 2024
Inflation is back on the rise, particularly in groceries and gasoline, but some categories are slowing down. The fallout from Albertsons' scrapped merger with Kroger sparks legal disputes, adding complexity to the grocery market. Mega-cap tech stocks soar as Apple rolls out AI features integrated with Siri, raising eyebrows about the future of tech innovations. Meanwhile, the Federal Reserve is eyeing potential interest rate cuts amidst conflicting economic indicators, creating uncertainty in the financial landscape.
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Quick takeaways
- November's CPI report reflects a slight inflation increase driven by rising grocery costs and persistent shelter price pressures.
- Albertsons' termination of its merger with Kroger highlights significant regulatory challenges and escalating legal disputes in the grocery sector.
Deep dives
Market Performance Highlights
The stock market shows a positive trend with the S&P 500 up approximately six-tenths of a percent and the NASDAQ leading with a 1.3 percent increase. Apple made headlines by reaching new all-time highs following the launch of new software that integrates ChatGPT with Siri, and it is also collaborating with Broadcom on an AI chip. The Dow, however, faces some pressure, declining by 57 points, partially due to a rally in Treasuries that is resulting in lower yields. Market activity reflects stability as investors remain optimistic about tech stocks despite some fluctuations.
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