ppi
In his podcast addressing the markets today, Louis Navellier offered the following commentary. PPI Continues To DeclineOn Thursday, the Labor Department announced that the Producer Price Index (PPI) rose 0.2% in April and 2.3% in the past 12 months. The big surprise was that the March PPI was revised to a decline of -0.4%, which helped the annual PPI dramatically decelerate to a 2.7% annual pace through March. Food prices declined -0.5% in April, while energy prices rose 0.8%. The core PPI, excluding food, energy and trade services, rose 0.2% in April and 3.4% in the past 12 months. Wholesale ...
ValueWalk
S&P 500 celebrated the tame CPI figure, and Fed minutes mentioning (risks of, thanks to banking) recession in 2H 2023, took care of the rest. Bonds risk-off, USD not well bid thanks to Fed pivot bets being dialed up, and real assets doing very well. The same goes for rising unemployment claims and slowing down PPI (inflation in the pipeline). The key question is when would the justifiably bearish interpretation overpower the remaining bullish sentiment (as if Fed pivot were happening in vacuum)… Q1 2023 hedge fund letters, conferences and more More intraday commentary on Twitter and Telegram f...
ValueWalk
In his podcast addressing the markets today, Louis Navellier offered the following commentary. The Labor Department reported that its Producer Price Index (PPI) rose 0.3% in November to a 7.4% annual pace. In October, the PPI was running at an 8.1% annual pace, so wholesale inflation is cooling off due largely to the fact that big surges in the PPI over a year ago are being “cut off” in the annual calculation. Q3 2022 hedge fund letters, conferences and more The core PPI, excluding food, energy and trade margins, rose 0.3% in November and 4.9% in the past 12 months. In October, the core PPI wa...
ValueWalk
S&P 500 bears couldn‘t maintain the momentum, and the buyers pulled off a fake breakout. As much as it was supported by bonds, these gave up both their intraday gains and risk-on posture in what bears hallmarks of a first refusal to go up. Not that I would be expecting any sizable upswing today, the 3,620s would provide first (easy to overcome) level of resistance. This would be tested on the initial PPI reaction – it‘s likely that stocks would try to interpret it in a bullish way before realizing that tomorrow‘s CPI is what matters more to the Fed really. Q3 2022 hedge fund letters, conferenc...
ValueWalk
OANDA – Morning rebound faded as PPI remains elevated, Oracle impresses, Oil market remains tight, Gold lower ahead of Fed, MicroStrategy all-in on Bitcoin, Bitcoin holding above $20k Wall Street was quick to fade the morning rebound that stemmed a modest improvement with producer prices, possibly providing some hope that core inflation continues to ease for businesses. Wholesale prices are still climbing higher and while they are slightly off the record annual pace, this report does not change anything for the Fed. Aggressive tightening over the next handful of policy meetings is the only cou...
ValueWalk
In hisDaily Market Notes report to investors, while commenting on PPI, Louis Navellier wrote: Q4 2021 hedge fund letters, conferences and more Brick In the WallThe Wall of Worry has added a few bricks of uncertainty around inflation, monetary policy, Ukraine, masking and pandemic cases. All these factors are crowded into the front burners for investors as this week begins. This morning, Fed Governor Jim Bullard claimed backpedaling now by the Fed on tightening policy in the face of the highest inflation numbers in 40 years would threaten the credibility of the Fed, and resulted in interest rat...
ValueWalk
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