CPI And Using An Expert To Help Guide Us
Below is a great example of an exercise I follow several times each month. When key economic data does not act as expected I love to highlight comments that my friend Brian Wesbury of First Trust makes. Negative comments for stocks are in magenta and positive comments are in green.
Clearly, today’s CPI data is hitting stocks hard. Tomorrow we get PPI which is the Producer side of the Price Index to today’s Consumer side. The takeaway is pretty simple. Inflation trending lower back to 2.0% has stalled at 3.5% and the Fed has more work to do which means rate cuts are unlikely for now and that means stock are going to trade sideways to maybe even down for a while.
If you like what Brian does, and I do, then you should click on this link and sign up to get as it is free.
Cheers,
Geoff