Economists polled by Reuters estimate China's consumer inflation rose 1.6% compared with a year ago, while producer prices fell 1.4%.
The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China.Shares in the Asia-Pacific are set to rise ahead of China inflation data for November.The Nikkei futures contract in Chicago was 27,695 while its counterpart in Osaka was at 27,680. That's higher than theChina is expected to release its inflation data. Economists polled by Reuters estimate consumer inflation rose 1.6% compared with a year ago, while producer prices fell 1.4%.
Computer chip manufacturer Taiwan Semiconductor Manufacturing Co. is expected to report earnings later in the day.bucking its longest losing streak since October as Wall Street evaluated the odds of a recession ahead.Stocks closed higher, with the S&P 500 snapping its longest losing streak since October.
The S&P added 0.75% to finish at 3,963.51. The Dow Jones Industrial Average gained 183.56 points, or 0.55%, to settle at 33,781.48, while the Nasdaq Composite rallied 1.13% to end at 11,082.00.The cost of financing a home has ticked lower for a fourth consecutive week, according to Freddie Mac. The weekly average rate on a 30-year mortgage is now 6.33%, down from 6.49% last week. Over the past month, the interest rate on these loans has come down about 75 basis points: On Nov. 10, the average rate on a fixed 30-year mortgage was 7.08%.
Even with the decline in the short term, the cost of financing a home loan is up significantly from a year ago. Last year at this time, the rate on a 30-year mortgage averaged 3.1%.slid 1.9% last week, compared to the week before that, according to the Mortgage Bankers Association.The inversion of the 3-month and 10-year Treasury yield curve is now the deepest since January 2001 at nearly 90 basis points, according to CNBC data. The short end of the curve soared to 4.30% from just 0.
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