Price

US Producer Price Inflation Slows In December

After consumer prices rose as expected (with shelter cost growth slowing dramatically but food costs surging), producer prices rose less than expected in December, up just 0.3% (vs +0.4% exp). This left producer prices up just 0.8% YoY, the same as in November. Source: Bloomberg It appears government-imposed lockdowns trumped supply chain disruptions with core…

Food Price Inflation Accelerates For Seventh Consecutive Month

By Tyler Durden Is it time to worry about food inflation? The Food and Agriculture Organization’s Food Price Index rose for a seventh consecutive month in December, led by dairy products and vegetable oils. The FAO Food Price Index averaged 107.5 points last month versus 105.2 points in November. The benchmark, which tracks global food…

Food Price Inflation Accelerates For Seventh Consecutive Month

Is it time to worry about food inflation? The Food and Agriculture Organization’s Food Price Index rose for a seventh consecutive month in December, led by dairy products and vegetable oils.  The FAO Food Price Index averaged 107.5 points last month versus 105.2 points in November.  The benchmark, which tracks global food prices of cereals,…

Another American Utility Receives Complaints about “Price Shock” Associated with “Smart” Meters

By B.N. Frank Utility “Smart” Meters – electric, gas, and water – are expensive and unnecessary.  In the U.S. they were federally mandated and proponents promised that these meters would reduce customer bills and save energy. Research has determined that they DO NOT SAVE meaningful amounts of energy. Also, in many cases, customer rates have…

Morgan Stanley's Adam Jonas Chases Tesla Price, Raising Target To $810 From $540

Tesla is once again moving higher on Wednesday morning, up about 5% in pre-market trading on the heels of yet another sell side analyst upgrade. Not one to be outdone by a gamma squeeze, Morgan Stanley’s Adam Jonas continued his saga of making up reasons to adjust his Tesla price target to try and explain trading in the name…

JPMorgan Flip-Flops Again, Says Bitcoin May Hit $100,000 "But Such Price Levels Would Be Unsustainable"

Back at the start of November, JPMorgan quant NIck Panigirtzoglou – perhaps tasked with being the skeptic in-house bitcoin strategist – predicted that based on position indicators and technicals, “bitcoin’s overbought positions by momentum traders such as CTAs could trigger profit taking or mean reversion flows over the near term.” Bitcoin, which was then trading…

Here Are The 3 Things That Can Blow Up Goldman's Euphoric 4,300 S&P Price Target

One month ago, Goldman’s chief equity strategist, David Kostin, decided that it was time to throw caution to the wind and in a note appropriately titled “The Roaring ’20s Redux“, raised his 2020 year-end price target from 3,600 to 3,700 and also forecast that the S&P would climb by 16% to 4300 at year end…

Airbnb Joins DoorDash By Boosting IPO Price Amid Year-End Deal Frenzy

As tourism and hospitality-related industries tumble into bankruptcy one after the other as the government money runs out and revenues dry up thanks to the pandemic, Airbnb – the sharing economy pioneer that has managed to shift its focus to offering ‘staycation’-type arrangements for high-strung professionals looking to take a little break from city life…

JPMorgan Admits It Was Wrong About End Of Bitcoin Bull Run, Renews $140,000-Plus Price Forecast

At the time of this writing, the cryptocurrency known as Bitcoin has seen its value skyrocket to around $19,000  after dropping down to around just $4,840 in mid-March. This is significant because the all-time high for the cryptocurrency is $19,783 back in December of 2017, only to drop down to as low as $3,122. Within the past…

Bank Analyst Puts Bitcoin Price Prediction “As High As $318,000”

Authored by Shaurya Malwa via Decrypt.co, In brief A senior Citi executive predicts Bitcoin may reach the six-figure price mark in 2021. Bitcoin’s rise has been similar to gold in the 1970s, the executive said. The rise of state-backed digital currencies also shows a changing regime, one that supports the growth of Bitcoin, he added….

Core Producer Price Growth Slows In October But Food Prices Surge

After yesterday’s disappointing (for some) cooler-than-expected CPI, analysts also expect producer price growth to decelerate in October but it modestly beat expectations, rising 0.3% MoM (vs +0.2% MoM exp). On a YoY basis, producer prices rise 0.5%, well below that of consumer prices… Source: Bloomberg In October, nearly 60 percent of the rise in the…

Europe To Pay Lower Price For Pfizer COVID Vaccine Than US

Even after the Trump Administration shelled out $2 billion in Operation Warp Speed money to secure 100 million doses of the Pfizer-BioNTech vaccine (don’t listen to the MSM when it claims Pfizer hasn’t benefited from government money), Europe has still somehow managed to secure a better price as part of a deal reported earlier on…