Afternoon Note
Stocks are rebounding this afternoon, even though this morning’s inflation report came in a little hotter than expected.
The index for shelter is once again the largest factor in the monthly increase for core CPI.
It must be noted that the so-called super core (core service ex-housing) came in sizzling at 6.9%.
These results don’t seem to be enough of a reason to know the Fed’s rate course. The May rate cut probability is now 16% from 52% a month ago.
The Technology sector is the best performer today thanks to gains in Nvidia (NVDA) and Microsoft (MSFT). Oracle (ORCL) post-earnings positive reaction is also contributing to the sector’s performance.
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Forget FOMO, this is FOMAD (Fear Of Missing A Dip) CHUCK on 3/12/2024 2:06:00 PM |
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4/22/2024 1:22 PM | Pins and Needles |
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4/19/2024 1:20 PM | Fair Chunk of Rotation |
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4/18/2024 1:37 PM | Didn’t Break Down |
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4/10/2024 1:22 PM | Hang In There |
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