U.S. CPI Beats Expectations; Alibaba Plans to Spin Off T-Head for Listing

Shenchao TechFlow reported that on Nov. 11, according to Jin10 Data, U.S. October CPI beat expectations, and markets raised bets on a 50-basis-point Federal Reserve rate hike next month. Waller said he supports a 25-basis-point hike next month, or 50 basis points if necessary; Logan said at least two more hikes of 25 basis points each are needed. Jin10 Data forecasts October core PCE to rise 3.3% year over year.

Domestically, the General Administration of Customs said October imports and exports totaled RMB 4.87 trillion, up 31.2%; Alibaba plans to spin off T-Head for independent listing on the HKEX Main Board; the annual intended transaction value at the 9th China International Import Expo exceeded $85.4 billion.

In technology and markets, OpenAI's Q3 revenue was about $10 billion; Anthropic plans to issue 825 million shares at $70 to $78 per share, raising up to $64.4 billion; the CFTC reportedly extended the review period for U.S. AI compute futures by at least 60 days. Nvidia closed down more than 5%, spot gold fell 3%, silver fell 4%, and U.S. 2-year Treasury yields surged 17 bps.

Source: Shenchao TechFlow