CNBC Daily Open: Inflation's hot, but so are markets this year [CNBC]
BRUNELLO CUCIN UNSP/ADR (BCUCY)
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Source: CNBC
Like what you see? You can subscribe here Markets in the red U.S. markets retreated on Thursday as investors assessed hotter-than-expected wholesale inflation numbers. The pan-European Stoxx 600 saw a decline amid a rate cut by the region's central bank. Shares of Brunello Cucinelli jumped 8% after the Italian luxury brand raised its annual forecast for 2024. U.S. producer prices still hot U.S. producer prices rose 0.4% in November, higher than the Dow Jones consensus estimate of 0.2%. On an annual basis, PPI advanced 3%, the most since the 12 months ended February 2023. The hotter-than-anticipated increase in producer prices comes after headline consumer prices rose at a sharper annual rate in November compared with the prior month. Inflation in India cools India's headline inflation rate came in at 5.48% in November, lower than the 5.53% expected by a Reuters poll and the 6.21% in October. The reading follows a disappointing quarter of economic growth for India and a new centr
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