INFLATION HOTTER THAN EXPECTATIONS – SMART MONEY SELLS – MOMO GURUS WRONG AGAIN
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Hotter Inflation
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- Consumer Price Index (CPI) came hotter than the consensus. Here are the details of the month-over-month numbers:
- The headline number came at +0.1% vs. – 0.1% consensus.
- Core CPI came at 0.6% vs. 0.3% consensus.
- The chart shows the release of the CPI data.
- Note the wide range of the bar.
- The high of the bar occurred just before the number was released at 8:30 am ET.
September 13, 2022