Wall Street faller etter inflasjonstall

The stock market experienced a decline on Wall Street shortly after 15:30 Norwegian time on Monday, following a strong opening. All three major indices rose by more than 2 percent in the early trading. NVIDIA's stock witnessed a significant drop after its CEO, Jensen Huang, faced allegations of misconduct. Take-Two Interactive, the company behind the GTA developers Rockstar Games, announced its quarterly results.

CEO Strauss Zelnick stated that the launch of "Grand Theft Auto VI" is ten days away, and based on pre-orders continuing to reach unprecedented levels, they anticipate a record year for the company. Take-Two expects net subscription revenues for the fiscal year 2027 to be between $8 and $8.2 billion. The company's revenue for the period ending September 30, 2026, was $1.49 billion.

Take-Two's quarterly performance differs, with the period being classified as the second quarter of 2027, down from $1.77 billion in the same period last year. Take Two reported a loss of $54 million after taxes, compared to $133.9 million the previous year, according to their quarterly report. Zelnick expressed confidence in Take Two's ability to build upon what he calls an "incredible year" and explore new business opportunities while expanding its geographic presence.

Oil prices fell several dollars on Monday and continued to decline on Tuesday. At market opening, Brent spot crude oil traded at $89.7, a drop of about 2.4 dollars since the close of business the previous night. Shortly before Wall Street opened, fresh inflation figures were released. The US consumer price index (CPI) rose 0.4 percent from September to October, while core inflation, excluding energy and food prices, increased 0.3 percent in the same period.

Both figures exceeded analysts' expectations. Annual CPI inflation data has not yet been released due to the shutdown of the U.S. government apparatus in the past year, resulting in unavailable comparative data. A rate cut in December is the main scenario, despite concerns about artificial intelligence, and despite inflation's victory, Goldman Sachs Asset Management's Lindsay Rosner stated that multiple rate cuts in 2027 cannot be ruled out.