“Inflation has peaked, probably, and will probably start to come down. I think the real question is the timing of that in relation to the slowdown in the real economy and the impact of those two countervailing forces on equity markets over the next six months.” , Avigad told CNBC’s Joumanna Bercetche at the Sohn London investment conference on Wednesday. “There is an argument that if equity and bond markets climb too aggressively, that amounts to easing financial conditions too early in the cycle for what central banks want to see.” – Elliott Smith

Stocks on the move: Billerud down 6%, Saab up 5%

Shares in Swedish pulp and paper maker Billerud fell more than 6 percent in early trading at the bottom of the Stoxx 600 after Jefferies downgraded the stock to “underperform” from “hold.” At the top of the index, compatriot aerospace and defense company Saab climbed 5%.

UK inflation hits 41-year high at 11.1% as food and energy prices continue to soar

Inflation in the UK jumped to a 41-year high of 11.1% in October, beating expectations as food, transport and energy prices continued to weigh on households and businesses. “Indicative estimates of consumer price inflation suggest that the CPI index would last be higher than in October 1981, when the estimate for the annual rate of inflation was 11.2%,” the Office for National Statistics said. On a monthly basis, the CPI rose by 2% in October, matching the annual rate of CPI inflation between July 2020 and 2021. Read the full story here. – Elliott Smith

Biden says ‘unlikely’ missile that killed two in Poland was fired from Russia

US President Joe Biden said it was “unlikely” that a missile that killed two people in Poland was fired from Russia, citing the missile’s trajectory. Asked by a reporter if the missile was fired from Russia, Biden said: “There is preliminary information that disputes that, I don’t want to say until we fully investigate.” He went on to say, “It’s unlikely … in the orbiter’s mind, that it was launched from Russia. But, we’ll see.” Biden reiterated that the leaders of the Group of 7 agreed to support an ongoing investigation into the blast. “We agreed to support Poland’s investigation into the explosion in rural Poland near the Ukrainian border. And I will make sure we understand exactly what happened,” he told reporters on the sidelines of the G-20 summit in Bali, Indonesia. . – Jihye Li

World Bank says Russia is ‘destroying its own future’ through war in Ukraine

World Bank president David Malpas said Russia is harming its future by continuing the war against Ukraine. “It weakens Russia, makes them pariahs and really destroys their own future,” he said. “I am hurt by what Russia is doing to itself, to its own people.” When asked about the latest developments on a Russian-made missile that killed Polish civilians, Malpass said: “I don’t want to speculate about the missiles, but as far as the G-20 is concerned [goes]there was unity, broad unity of the G-20 countries against the war.” – Jihye Li

Goldman Sachs says peak battery metal prices are approaching. Given that perspective, CNBC Pro looked at the Global X Lithium & Battery Tech ETF for stocks related to electric vehicle makers that could offer opportunities for investors. These stocks are expected to post full-year growth in 2023, are rated by the majority of analysts covering them, and have an average potential upside of at least 20% over the next 12 months. Here is. — Zavier Ong

CNBC Pro: These biotech stocks look cheap — and analysts give 2 over 100% upside

Fundstrat said a number of biotech stocks are worth following and that the subsector is currently the strongest in the healthcare sector. Mark Newton, chief technical strategist at research firm Fundstrat, said the sector is “a key part of why Health is likely to have a strong Q4 [fourth quarter] overperformance,” according to a Nov. 14 memo. To identify biotech stocks that look cheap and are expected to rise in the future, CNBC Pro looked at the iShares Biotechnology ETF on FactSet. Here are 8: CNBC Pro subscribers can read more here. — Weizhen Tan

CNBC Pro: Fed ‘pivot’ dead, says strategist, who shares where to invest right now

Fidelity says the notion that a pivot from the Federal Reserve’s dovish stance will benefit stocks is “dead.” Salman Ahmed, global head of macroeconomics and strategic asset allocation at the investment management firm, said he was concerned about the short-term performance of stocks and suggested the investor look at a different asset class. — Ganesh Rao

European markets: Here are the opening invitations

European markets are set to open lower on Wednesday as political instability gripped the region after a missile hit Polish soil on Wednesday, heightening tensions between Russia and NATO. Britain’s FTSE is expected to open 31 points lower at 7,328, Germany’s DAX 121 points at 14,237, France’s CAC 48 points at 6,580 and Italy’s FTSE MIB 205 points at 24,405, according to IG data. Global markets will be watching developments in Ukraine after a massive missile strike across the country on Wednesday, and the fallout from a missile hitting Polish soil, although Moscow denies responsibility for the strike. Earnings to be announced are from Alstom, Siemens Energy, Premier Foods, SSE, Experian and Man Utd and data releases include the latest UK inflation numbers for October. — Holly Elliott