Stocks End Flat After Hot Inflation Data; Bitcoin and Banks in Focus
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US stocks recovered from losses to end flat after hotter-than-expected inflation data raised questions about the Fed's interest rate path. S&P 500 closed just under flatline.
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First US spot bitcoin ETFs began trading after SEC approval. Bitcoin held above $46,000.
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Citi said it will take $3B in charges in Q4 results ahead of earnings. Banks’ reports seen as crucial with stocks struggling in 2023.
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Hertz putting 20,000 EVs up for sale, stock falls on higher maintenance costs. Pivoting away from initial EV plans.
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Oil prices spike then pare gains on Iran seizure of oil tanker. Incident raised worries of Middle East tensions. Higher electricity and gas costs also contributed to hot inflation data.