Items to look out for today include US inflation and employment data, and any insights contained in annual results from Broadcom and Costco Wholesale.
US wholesale inflation: The US producer price index, which tracks wholesale price inflation, is expected to have risen 2.6 per cent in November on an annual basis, compared with 2.4 per cent in October. The PPI figures land a day after data showing consumer prices rose 2.7 per cent in the year to November, in line with forecasts and underscoring expectations that the Federal Reserve will cut interest rates next week.
Initial jobless claims: New applications for US unemployment aid are expected to have slowed to 220,000 in the week ended December 7, from 224,000 in the previous week.
Broadcom: Investors will be keen to hear about any new product announcements from the US chipmaker when it reports earnings after market close. The company is expected to post a 52 per cent jump in fourth-quarter revenues, to $14.1bn.
Costco Wholesale: Investors will watch for the large retailer’s latest insights into consumer spending in the holiday season. Costco is expected to report a 7 per cent jump in first-quarter revenues, to $62.1bn.
Read the full article here