What did US CPI December 2025 show?

US CPI December 2025 rose 2.7% year over year, as food and utilities stayed elevated. The report points to steady but slow disinflation, not a quick drop. That keeps pressure on rate-cut timing and may weigh on risk appetite near resistance for U.S. equities.

How do tariffs affect inflation now?

Tariffs raise specific import costs, which firms can pass on to consumers. The effect is uneven but can add to sticky categories already under strain from food and utilities. This complicates the inflation path and may delay easier policy until broader, sustained cooling appears.

What is the Fed rate cut outlook after the report?

With inflation holding at 2.7%, markets see less chance of early, aggressive cuts. The Fed will likely ask for more proof that price gains are broadening lower. That keeps front-end yields supported and argues for quality equities over long-duration, unprofitable growth.

What should Hong Kong investors watch today?

Focus on U.S. yields, the USD tone, and S&P 500 levels near 6980/6866. If rates stay firm, favor pricing power, dividends, and selective cyclicals. The USD/HKD peg limits currency swings, so manage exposure with staged entries and clear stop-loss levels at nearby supports.

Global Market Insights

^GSPC Today, January 15: Sticky CPI, Tariff Pressures Temper Fed Cut Bets

ByDanny Kontos January 15, 2026January 15, 2026

US CPI December 2025 stayed at 2.7% year over year, supported by firm food, utilities, and tariff pass-through. For Hong Kong investors, the S&P 500 (^GSPC) guides global risk today as traders rethink the Fed rate cut outlook. Sticky costs can cap multiple expansion even near record highs. We outline what this means for leadership, yields, the US dollar, and the open. We also share clear steps to position HKD portfolios into the U.S. session.