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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Beat the Street: PCE; NIKE; Carnival; UAW; oil; gold

US stocks indicated slightly higher after softer-than-expected inflation. NIKE gave back some gains post-results. Carnival earnings on deck. UAW strike may continue unless a deal is reached. Watch oil ahead of an OPEC+ meeting.

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(Video Transcript Summary)

Stock market stable after rates news

In this video, Angeline Ong gives a quick rundown of the most important news and information before Wall Street opens for trading. She covers a range of topics that can impact the market, such as inflation, oil prices, company earnings, strikes in the auto industry and Tesla's upcoming deliveries.

First, Angeline talks about inflation, which is the increase in prices over time. She mentions the personal consumption expenditure (PCE) price index, a measure used to understand inflation and the Federal Reserve's decisions regarding interest rates.

The latest data shows that inflation was slightly lower than expected, which could affect expectations for future interest rate hikes. However, the stock market seems relatively stable despite this news.

NIKE results show sneakers are still hip

Angeline discusses NIKE, a popular sportswear company, highlighting that NIKE beat profit estimates, which means they made more money than expected. While some analysts have concerns about future economic factors, others remain optimistic about NIKE's performance.

Although NIKE missed revenue expectations, the company is making progress in managing excess products, which is good news for investors.

Carnival earnings a barometer of travel trends

Travel company Carnival will release its earnings later in the day and investors are interested in their outlook and any comments on travel trends. Carnival's stock has declined since reaching its highest point after the Covid-19 lockdowns in September 2022.

With regards to the ongoing strike in the auto industry, the president of the United Auto Workers (UAW) is expected to announce more information about the strike, which can disrupt production and supply chains for Detroit auto factories.

Tesla has some analysts believing the electric car company might miss delivery estimates due to factory shutdowns and soft demand. This is because the company is upgrading equipment and preparing for new vehicle models.

Oil prices may drop

Overall, Angeline provides updates on various aspects of the market, including gold prices, currency exchange rates and oil prices. Gold prices are declining for the second consecutive quarter, she says, while bond yields are doing well. Oil prices have been rising since the summer but may experience a temporary decrease due to profit-taking and technical indicators.

In conclusion, Angeline presents a comprehensive summary of important market updates and insights for investors to consider.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

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