[Chart courtesy of MarketWatch.com] Moving the markets Despite the CPI turning out a bit “cooler” than expected, with the headline number printing +0.1% MoM and +5.0% YoY vs. 5.1% anticipated—and down from 6% YoY prior—the reaction was lukewarm at best. The Fed’s favorite core CPI rose 0.4% MoM, in line with expectations, but it pushed the index up 5.6% YoY, …
Going Nowhere Ahead Of The CPI Report
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Dow and the S&P bouncing above their respective unchanged lines throughout the session, in the end not much was gained, as traders tried to elude possible negative consequences ahead of key inflation data. It’s worth noting that tomorrow’s CPI and Thursday’s PPI report are the last critical inflation data points before …
ETF Tracker Newsletter For March 21, 2023
ETF Tracker StatSheet You can view the latest version here. ENDING THE MONTH ON A POSITIVE NOTE [Chart courtesy of MarketWatch.com] Moving the markets It was only three trading days ago when the S&P 500 had finally climbed back to a point where its performance was even for the month, after having been clobbered during the banking crises. From …
Getting Hammered
[Chart courtesy of MarketWatch.com] Moving the markets After a brief sprint above their respective unchanged lines, the major indexes reversed and hit the skids, with the Dow dumping over 500 points for the second time this week, as traders braced for tomorrow’s payroll report. Remember that good news is bad news, which means a better-than-expected payroll print directly translates into …
CPI Pleases Markets
[Chart courtesy of MarketWatch.com] Moving the markets Despite the CPI report syncing up with expectations of an increase of 6.5% YoY, it was the monthly dip of 0.1% in December from November that kept the bullish juices flowing and helped the Nasdaq to complete a 5-day winning streak. The CPI excluding food and energy prices also met anticipations, which showed …
Directionless Wandering
[Chart courtesy of MarketWatch.com] Moving the markets Aimless meandering, with a slight upside bias, continued but, in the end, traders were too much on edge ahead of Powell’s speech on Friday regarding inflation and interest rates following the Jackson Hole symposium. Beliefs are that the Fed will reinforce its view of fighting inflation, which could create a headwind for equity …