Oddbean

CNBC Daily Open: The economy and inflation might stay strong ========== On October 15, 2024, the Dow Jones Industrial Average closed above 43,000 for the first time, with the S&P 500 up 0.77% and the Nasdaq Composite rising 0.87%. Nvidia's stock reached a record high of $138.07, boosting Asian chip stocks. Fed Governor Christopher Waller indicated a potential slowdown in interest rate cuts due to strong economic data. Boeing's strike has cost over $1 billion, with CEO Kelly Ortberg announcing 17,000 job cuts and a delay in the 777X plane delivery until 2026. Deutsche Bank's Henry Allen warned of high inflation risks, while Bank of America’s Ohsung Kwon noted that strong retail sales could support the 'no landing' economic narrative. #Economy #Inflation #StockMarket #FederalReserve #Boeing #Nvidia #RetailSales #InterestRates #Employment #GlobalMarkets https://www.cnbc.com/2024/10/15/cnbc-daily-open-the-economy-and-inflation-might-stay-strong-.html