TLDR

MARKET RECAP → Nasdaq (QQQ) rallied on Wednesday, eclipsing 20,000 for the first time with some help from Google (GOOG) shares. Investors digested inflation data today and are pricing in a 99% chance that the Fed will cut rates next week by 0.25%.

ANNUAL INFLATION RISES TO 2.7% → Annual inflation hit 2.7% in November, meeting expectations and fueling confidence in a Fed rate cut next week despite lingering shelter cost pressures. 📊

APPLE’S CHATGPT MEETS SIRI → Apple (AAPL) integrated ChatGPT into Siri, enhancing AI capabilities and boosting iPhone appeal, while OpenAI secures prime exposure to millions of users. 🤖

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TODAY’S TOP NEWS

Annual Inflation Rises To 2.7%

📈 Inflation climbed to 2.7% annually in November, with consumer prices rising 0.3% monthly, fueled by increases in shelter, food, and vehicle costs. Core inflation held steady at 3.3%, aligning with expectations but remaining above the Fed's 2% target.

🏦 Markets solidified expectations for a Fed rate cut next week, with a 99% chance of a quarter-point—or 0.25%—reduction. However, policymakers expressed caution about slowing inflation progress, indicating future cuts may be gradual.

🍴 Shelter accounted for 40% of the CPI rise, up 4.7% annually. Energy costs ticked up slightly, while food prices rose 2.4% yearly. Real wages were flat month-over-month, offering little relief for households.

TODAY’S TOP NEWS

Apple’s ChatGPT Meets Siri

📱 Apple (AAPL) rolled out updates featuring ChatGPT integration with Siri, enabling users to access OpenAI's GPT-4o model for complex queries. This marks a pivotal step for Apple Intelligence, a suite of AI tools enhancing Siri and other services.

🚀 The integration is a win for OpenAI, placing its product directly in front of millions of iPhone users while allowing Apple to boost iPhone sales and lead the consumer AI space. Privacy protections ensure OpenAI won't store user requests.

🎨 The update also includes Apple's AI-powered Playground for image generation and Image Wand for photo editing, showcasing Apple's AI ambitions in productivity and creativity. Only iPhone 15 or newer models support these features.

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