PPI Hotter Than Expected

September PPI came in at 0.5% versus 0.3% expectations, briefly driving down futures prices…until VIX was hammered back down. Its 200-day moving average continues to be the critical threshold for algos. It remains to be seen whether tomorrow’s CPI print can also be ignored. continued for members… … continue reading →

Charts I’m Watching: Sep 27, 2023

Futures have rebounded modestly following yesterday’s drubbing. The Conference Board’s Consumer Confidence Index’s plunge from 108.7 to 103 did little to convince investors that the consumer is still doing well. Perhaps the more important question: will it outweigh, in the minds of FOMC members, the stellar 0.9% increase in August for core capital goods? continued … continue reading →

CPI Tops Estimates: Sep 13, 2023

August CPI came in at 0.6% MoM and 3.7% YoY, slightly higher than expectations. Core CPI was 0.3% MoM and 4.3% YoY, also higher than expectations. This is in line with our forecast, driven largely by higher costs for rent, transportation, and energy. Futures are flat ahead of the open… …with VIX making lower lows … continue reading →