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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Beat the street: PPI; retail sales; Target; TJX; Walmart; Gap

Softer-than-expected producer prices data, after that CPI data, adds to expectations that the Federal Reserve is done with its interest rate hikes.

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Target's upbeat holiday-quarter profit forecast has put a spring in the sector’s step. TJX has cut its holiday quarter expectations. Plus, the countdown to earnings from Walmart, Gap, and Ross begins.

(AI Video Summary)

Promising market updates

The equity rally is on fire, as experts are betting on the possibility of lower interest rates, thanks to slumping inflation. We'll also be talking about Target Corp, which is expected to rake in a hefty profit this holiday quarter, along with other retailers and some juicy inflation data.

Lower-than-expected PPI

Our guest speaker for today is Christopher Vecchio from Tastylive, part of the IG Group. He's here to give us his take on the latest data. It seems that the lower-than-expected PPI (Producer Price Index) numbers are good news for the Federal Reserve. They hint at the possibility of more disinflation, which is something the Fed is actively working towards. On the other hand, retail sales numbers remain strong, which doesn't quite align with the Fed's agenda of reducing overall demand.

Outlook on US and China meeting

Now, let's move on to some global matters. There's a lot of hope riding on the US and China meeting. If they can thaw their icy relations, it could have a positive impact on the global economy. They'll be discussing important issues like cracking down on the fentanyl trade and promoting freedom of the press. The Taiwan situation may also come up. Many believe that collaboration between the US and China is crucial to avoid conflict, and any steps in that direction will be music to the markets' ears.

State of the markets

Speaking of markets, the S&P 500 has already seen a rise after the release of softer inflation data. Many analysts believe that this upward trend may continue till the end of the year. Target is another star performer, projecting strong profits thanks to their optimized inventory levels. Customers on a tight budget are turning to TJX Cos Inc for affordable alternatives, amidst a cost-of-living crisis. Walmart, on the other hand, is expected to witness a rise in sales as they provide lower priced ingredients and Thanksgiving meals to help their customers.

Unfortunately, Gap is likely to experience a fall in revenue due to the increasing popularity of online shopping. And let's not forget about the oil market. It's a wild ride at the moment, with worries about demand and production cuts by Saudi Arabia and OPEC. Hedge funds and other money managers are selling off large amounts of oil contracts, adding to the volatility.

All in all, it looks like the Dow Jones, US Tech 100, and US 500 are set to continue their winning streaks based on the latest October PPI and retail sales data.

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. See full non-independent research disclaimer and quarterly summary.

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