The US Dollar Index fell by 0.09%, closing at 98.306.
According to ChainCatcher, citing Golden Ten Data, the US Dollar Index, which measures the dollar against six major currencies, fell by 0.09% on December 15, closing at 98.306 in the late foreign exchange market. 1 euro exchanged for 1.1749 US dollars, higher than the previous trading day's 1.174 US dollars; 1 pound exchanged for 1.3373 US dollars, higher than the previous trading day's 1.3366 US dollars; 1 US dollar exchanged for 155.24 yen, lower than the previous trading day's 155.9 yen; 1 US dollar exchanged for 0.7966 Swiss francs, higher than the previous trading day's 0.7959 Swiss francs; 1 US dollar exchanged for 1.3773 Canadian dollars, higher than the previous trading day's 1.3766 Canadian dollars; 1 US dollar exchanged for 9.2895 Swedish kronor, higher than the previous trading day's 9.2732 Swedish kronor.
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The inflation bill has arrived, and Wall Street is starting to discount the "profit feast" of American companies.
Wall Street analysts have lowered their US stock earnings forecasts for the first time in 23 weeks, ending the longest streak of upward revisions since September 2021. High inflation and rising energy costs are squeezing profit margins in sectors such as consumer, raw materials, and finance. The combination of pressure on corporate earnings (the numerator) and rising discount rates (the denominator) is exposing US stocks to significant valuation adjustment risks.
