Citi: Weak battery supply chain activity in early 2024 may limit recent lithium price increases.

Citi: Volatility in lithium prices will continue in 2024.

Tesla (TSLA.O) narrowed its pre-market losses slightly and is now down 1.3%.

Jansson, Deputy Governor of the Riksbank: We need to always be wary of rapid exchange rate fluctuations, which are often difficult to understand and have an impact on the inflation outlook.

Jansson, Deputy Governor of the Riksbank: The Swedish krona has appreciated since the November monetary policy meeting. This reduces the risk of inflation settling at too high a level.

Jansson, Deputy Governor of the Riksbank: Many companies are passing on rising costs to consumers to a greater extent than before.

Jansson, Deputy Governor of the Riksbank: There are still some problems with inflation dynamics.

Jansson, Deputy Governor of the Riksbank: I think inflationary pressures are indeed on the way down.

Tesla is reported to have not disclosed the extent of salary increases for its employees.

Market News: Barclays and IBM analyze how the accessibility and versatility of artificial intelligence can boost productivity.

USD/CHF rose 0.50% during the day and is now at 0.8550.

The Valkyrie Bitcoin ETF began trading before the U.S. stock market opened; it was last quoted at $14.69.

Dana Peterson, chief economist of the Conference Board: The Federal Reserve will "probably" start cutting interest rates around June. While core inflation is moderating, the Fed is also keeping an eye on headline inflation data. The good news is that wage growth is cooling.

Polish central bank official Wnorowski: There is no need to raise Polish interest rates.

Agency comments on U.S. CPI data: Data show that gasoline prices did fall before seasonally adjustment, but after adjustments, gasoline prices rose. This may be a factor in the overall CPI increase being higher than expected.

The German 2-year government bond yield fell 0.1 basis points to 2.649%; the Italian 2-year government bond yield fell 1.5 basis points to 3.200%.

The U.S. 10-year Treasury bond yield rose slightly after the release of CPI data, falling 1.10 basis points to 4.019% on the day.

After the release of the inflation data, the U.S. 2-year Treasury bond yield rose 1 basis point and is now at 4.381%.