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    Business News: Tesla (TSLA) recall, markets await CPI data

    By Jenny McCall

    13:50, 9 February 2022

    Tesla (TSLA) logo on steering wheel
    US consumer prices for January are expected to show an increase in inflation – Photo: Shutterstock

    Key Points

    Tesla (TSLA) will recall over 26,000 vehicles in the US, after the National Highway Traffic Safety Administration (NHTSA), announced today that some models produced by the electric vehicle (EV) and clean energy company have an issue with windshield defrosting technology.

    GlaxoSmithKline (GSK) beat estimates by reporting fourth quarter turnover of £9.5bn, up 9% year over year. The news comes after the British pharma rejected Unilever’s takeover bid of its consumer division.

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    Other significant business and economic news

    CVS Health (CVS) reported full-year revenue rose 7.8% and adjusted operating income increased 20.6%, driven by higher demand for Covid-19 vaccines due to the Omicron variant.

    Yum Brands (YUM) announced full-year earnings per share jumped 77%. The parent of KFC, Pizza Hut and Taco Bell said systemwide sales grew 13% in 2021, with 10% same store sales growth.

    Markets today

    • Stocks: Global stocks rallied today, as concerns around interest rate hikes subsided. The Stoxx 600 was up by over 1%, as well as the Stoxx 50 index, both driven by company earnings.
    • Oil: Oil prices were down today, with Brent crude falling almost 1% in afternoon trading.
    • Gold: Gold prices were steady today, with spot gold trading around $1,800.
    • Forex: The US dollar was down today, as markets await US consumer price index (CPI) data due to be released tomorrow
    • Crypto: Bitcoin was down by over 1% and ethereum also fell by almost 4% in afternoon trading today.

    What to watch today

    • The US consumer price index for January comes out Thursday. Analysts expect quickening inflation to follow December’s 7% increase.

    Markets in this article

    Oil - Brent
    Brent Oil
    83.763 USD
    0.331 +0.400%
    BTC/USD
    Bitcoin / USD
    59865.05 USD
    2533.45 +4.420%
    CVS
    CVS
    55.21 USD
    -1.16 -2.060%
    ETH/USD
    Ethereum / USD
    3022.25 USD
    80.59 +2.740%
    GSK
    GlaxoSmithKline
    43.40 USD
    0.77 +1.810%

    Related topics

    #Tesla stock #EURO STOXX 50 #Oil #Ethereum #Coronavirus #Earnings #Bitcoin

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    Image of Tesla logo on a smartphone against a background of stock market trends
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