CPI DATA GIVES AMMUNITION TO BOTH BULLS AND BEARS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Consumer Price Index
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:
- CPI data is giving ammunition to both bulls and bears. Here are the details:
- Headline CPI came at -0.1% month-over-month vs. 0.0% consensus.
- Core CPI came at 0.3% month-over-month vs. 0.3% consensus.
- Stock market bulls are encouraged because for the first time in a while, the headline CPI is a negative number.
- Stock market bears are encouraged because core service inflation is not coming down.
January 12, 2023