Afternoon Note
Strong Rebound
By Karina Hernandez, Senior Research Analyst
1/8/2024 1:42 PM
It is a strong session helped by a rebound in technology stocks. Nvidia (NVDA) hit a new record high amid a report that the company is set to start mass production of a China-focused AI chip.
On the economic front, inflation Expectations from the NY Fed saw one-year ahead to drop significantly to 3%, its lowest level since 2021. The 3-year ahead hit its lowest level since June 2020 at 2.6%.
More intriguing is household income struggling to rise, and spending expectations lurching into free fall.
| Comments |
| On the income and spending chart, what does the left axis represent? Dollars? Millions? Kevin on 1/8/2024 7:09:39 PM |
| It represents Percent. Karina Hernandez on 1/9/2024 7:48:37 AM |
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