Japan’s retail sales see ninth consecutive month of growth
Japan’s retail sales grew 2.6% in November, marking the ninth month of growth, according to data released by the Ministry of Economy, Trade and Industry.
The reading missed expectations for growth of 3.7%, according to economists polled by Reuters – and marks the slowest growth since July.
The government’s lifting of Covid border restrictions and a domestic travel subsidy boosted wider consumer demand, as the economy saw an unexpected contraction in private consumption recovery.
– Jihye Lee
CNBC Pro: Tesla shares have fallen 35% this month — and short-sellers piled on
Short sellers raised their bets against Tesla this month, as the electric car maker’s shares fell by a further 35%.
More than 3% of Tesla shares currently trading are sold short, according to S3 Partners. Only Apple faces a bigger short bet.
CNBC Pro subscribers can read more here.
— Ganesh Rao
China’s year-to-date industrial profit data falls further
China’s total profits of industrial enterprises for January to November fell further to -3.6% compared with a year ago, according to data from the National Bureau of Statistics.
November’s print marks the fifth-straight negative reading after falling below 0 in July, and marks the worst performance since August 2020, when it saw a loss of 4.4%.
– Jihye Lee
CNBC Pro: Will 2023 be a better year for the chip sector? Wall Street pros weigh in and give their top picks
Once an investor favorite, chip stocks have sold off this year amid a flight to safety.The pros reveal what’s next for the sector and name their top stock picks.
Pro subscribers can read more here.
— Zavier Ong
Stocks close higher to end the week
Stocks ended in the green on Friday.
The Dow Jones Industrial Average closed 176 points higher, or 0.5%, to 33,203.93. The S&P 500 rose 0.6% to 3,844.82, while the and Nasdaq Composite added 0.2% to close at 10,497.86.
— Tanaya Macheel
Fed preferred inflation indicator rises slightly more than expected
The core personal consumption expenditures price index, the Federal Reserve’s preferred gauge of inflation, rose slightly more than economists expected on a year-over-year basis.
Core PCE climbed 4.7% in November from the year-earlier period, while economists polled by Dow Jones expected a gain of 4.6%. Month over month, the index advanced 0.2%, matching expectations.
— Fred Imbert
Read More:Asia markets rise as China says it will end quarantine for inbound travelers
2022-12-27 00:48:00
