DoorDash, RingCentral, And Rivian Generating Some Interest

DoorDash, RingCentral, And Rivian Generating Some Interest

Today's news starts with inflation information. Inflation numbers were released for China and the United States. China reported that inflation on the producer level hit a 26-year high to 13. 5%. In contrast, the U. S. Producer Price Index came in at 8. 6% on Tuesday. One the largest impacts to China's rising prices was rising energy costs. China also reported that consumer prices rose 1. 5% reaching a 13-month high. Rising costs in food and fuel were big drivers. However, China uses price controls and subsides to reduce consumer prices. This means Chinese companies may have to take the brunt of the costs which could reduce their profitability. Chinese price controls on commodities and raw materials could also result in shortages for the country as foreign producers may funnel products to other countries willing to pay the higher prices. The U. S. Consumer Price Index (CPI) came in much higher than expected at 0. 6% instead of the 0. 4% forecasted for the month of October. Annual inflation was expected to be at 5. 8% but was actually 6. 2%. Core CPI was up 4. 6%, but inflation was pretty much hotter across the board. The 10-year Treasury Yield