INFLATION AT PRODUCER LEVEL COOLS, A SURPRISE FROM CHINA
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Inflation Cools At Producer Level
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:
- The chart shows that yesterday’s attempt for the stock market to break above the upper band of the support/resistance zone failed. Initially, on release of CPI data, the stock market rose above the upper band but was not able to sustain. Please see yesterday’s Morning Capsule and Afternoon Capsule.
- The chart shows that there is an up move in the stock market in the early trade on PPI and jobless claims data.
April 13, 2023