Stocks are flat in premarket trading and not much is going on… Most institutional investors are waiting for Thursday’s Consumer Price Index inflation report before making any major moves, so today’s trading will likely be muted.
The key CPI number the market is looking for is 4% year over year growth or lower (excluding food and energy prices).
If it’s lower, it will really give the market a major boost. My major concern is still what the Federal Reserve will say about interest rates. The chances for a March rate cut have fallen to 66% for a 0.25% cut.
Also critical right now is the long bond (TLT), which is right at its 200-day moving average.
There’s also a wrinkle for today’s trading that you need to pay attention to…
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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