CNBC Daily Open: U.S. inflation edged up but investors have things to be thankful for

Inflation successful October ticked up
The idiosyncratic depletion expenditures terms scale for October ticked up 0.2% connected the period and 2.3% connected a 12-month basis, according to the U.S. Commerce Department connected Wednesday. Core ostentation roseate 0.3% connected the period and showed an yearly speechmaking of 2.8%, higher than September's 2.7%. All figures were successful with Dow Jones statement estimates.

U.S. markets interruption rally
U.S. banal markets fell connected Wednesday, with  the S&P 500 snapping its seven-day winning streak. Bond prices roseate arsenic Treasury yields slipped. Asia-Pacific stocks mostly roseate connected Thursday. Australia's S&P/ASX 200 climbed 0.45% to adjacent astatine a caller record. South Korea's blue-chip Kospi scale was level aft the country's cardinal slope lowered rates.

South Korea unexpectedly cuts rates
On Thursday, the Bank of Korea cut its benchmark involvement rate by 25 ground points to 3%. A Reuters canvass of economists had expected the BOK to support rates unchanged. South Korea reported past period disappointing third-quarter economical maturation of conscionable 0.1% from a 4th earlier. The BOK connected Thursday lowered its 2024 gross home merchandise outlook to 2.2% from 2.4%.

Offshore yuan mightiness driblet to lowest level
China's offshore yuan is projected to autumn to an mean of 7.51 against the dollar by the extremity of 2025, according to CNBC's calculation of forecasts from 13 institutions. That would beryllium the offshore yuan's lowest level connected record, going by LSEG information dating backmost to 2004. Tariff threats and little involvement rates successful China are putting unit connected the yuan.

[PRO] Potential beneficiaries of tariffs
U.S. President-elect Donald Trump's planned tariffs are worrying some investors and companies due to the fact that higher import fees volition rise costs. That said, those tariffs could benefit 5 exertion companies that specialize successful helping companies optimize proviso chains.

In mentation for a dense repast of turkey and stuffing and pumpkin pie, investors successful the U.S. kept their trading appetite light.

The SPDR S&P 500, an exchange-traded money that tracks the broad-based index, traded astir 22.6% less shares than its 30-day average.

So adjacent though the S&P fell 0.38% to interruption its seven-day winning streak and the Dow Jones Industrial Average slid 0.31%, those moves don't look to beryllium a sell-off sparked by wide panic.

Instead, traders look to beryllium giving acknowledgment to the year's rally successful Big Tech stocks by taking nett connected them, which caused the Nasdaq Composite to driblet a comparatively steeper 0.6%.

The information that ostentation successful the U.S., connected an annualized basis, ticked up by 0.1 percent constituent from the erstwhile period didn't look to faze investors overmuch either, astir apt due to the fact that it wasn't an unexpected increase.

In fact, traders boosted their bets that the U.S. Federal Reserve volition little rates by 25 ground points astatine its December meeting. The marketplace is pricing successful a 68.2% accidental of that happening, higher than the 55.7% of a week ago, according to the CME FedWatch tool.

"Today's information shouldn't alteration views of the apt way for disinflation, nevertheless bumpy," said David Alcaly, pb macroeconomic strategist astatine Lazard Asset Management.

Echoing his views, Scott Helfstein, Global X's caput of concern strategy, says helium thinks the Fed "can devour turkey and ticker shot for a time knowing that they are adjacent to afloat employment with terms stability."

Investors tin besides propulsion themselves into the festivities. More than three-quarters of stocks successful the S&P are supra their 200-day moving average, suggesting a dependable upward inclination and a marketplace "still solid," according to Chris Verrone, caput of the method and macro probe astatine Strategas.

That's plentifulness of things to beryllium grateful for this Thanksgiving.

— CNBC's Jeff Cox, Scott Schnipper, Alex Harring and Sean Conlon contributed to this report.