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Taiwan Semiconductor, Delta Air, Producer Prices: 3 Things to Watch

uk.investing.com logo uk.investing.com 12/01/2022 Investing.com
Taiwan Semiconductor, Delta Air, Producer Prices: 3 Things to Watch © Reuters Taiwan Semiconductor, Delta Air, Producer Prices: 3 Things to Watch

By Dhirendra Tripathi

Investing.com -- Stocks rose on Wednesday after inflation data showing prices rose the most in 40 years last month failed to rattle investors.

For the most part, the inflation expectations are already reflected in the market. The Federal Reserve is unlikely to act any more aggressively than it has already signaled given the number for December, which largely met forecasts.

Inflation even slowed a bit from November, when South Africa scientists first told the world about the Omicron variant of Covid, which has since created a record-smashing surge of cases around the world, especially in the U.S.

Data from the Labor Department showed its consumer price index increased 0.5% last month after rising 0.8% in November.

"I don't see this disturbing the markets because higher inflation was expected," Peter Cardillo, chief market economist at Spartan Capital Securities, told Reuters.

Nasdaq was particularly strong, rising 0.4% while the S&P 500 and Dow Jones Industrial Average rose 3% and 1%, respectively.

Earnings season officially kicks off on Thursday, with a bunch of big banks ready to report their results on Friday. Here are three things that could affect markets tomorrow:

1. TSMC earnings

Taiwan Semiconductor Manufacturing (NYSE:TSM) will declare its fourth-quarter numbers Thursday. The chipmaker is expected to report a profit per share of $1.12 on revenue of $15.65 billion, according to analysts tracked by Investing.com. Analysts will be listening for its comments on the outlook for the chip sector after a global shortage gummed up manufacturing last year.

2. Delta profits

Delta Air Lines Inc (NYSE:DAL) is seen clocking a fourth-quarter revenue of $8.85 billion and a profit per share of 11 cents. Analysts will be listening to hear the company’s outlook for travel amid a surge in coronavirus cases that has put a damper on the reopening. Weather events also curtailed some flights in the last few weeks.

3. Producer inflation

Wholesale price inflation is expected to have risen by 0.4% in December on a month-on-month basis. It had risen 0.8% in November, according to analysts tracked by Investing.com. The data comes out at 8:30 AM ET.

–Investing.com staff and Reuters contributed to this report

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