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CPI Report Beats Core Inflation Expectations, Banks Post Strong Numbers to Kick Off Earnings Season

by | Jan 15, 2025

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Big banks are kicking off earnings season on a strong note ahead of this morning’s crucial Consumer Price Index inflation report, which also sent stocks sharply higher premarket. 

JPMorgan (JPM), Citigroup (C ) and Wells Fargo (WFC) are all up after reporting their numbers, and the Financial sector ETF (XLF) is up 1.1%. 

But the big story was the CPI, which hit a day after the Producer Price Index showed producers are still paying as much or more than they did a year ago. 

Year over year, the CPI came in at 2.9% vs. expectations of 2.9% and a previous reading of 2.7%. So inflation is still worse than it was a year ago…

Excluding more volatile food and energy prices, the number is 3.2% vs. expectations of 3.3% — so a small beat here and an overall good report. 

Stocks went from up nicely, around 0.3% in the S&P 500 (SPY) to up 1.3% right after the report. This is much better than Tuesday’s PPI report, and some welcome news for the market, so we could be in store for a strong day…

I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!

Roger Scott
Roger Scott Trading

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P.S. The Large-Cap Stock That Could Surge in the Next 10 Days

I’ve seen this before…

Now that we’ve entered 2025, a familiar trend is unfolding.

The trend I’m talking about is what most traders call “The January Effect.”

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Now, with January in full swing, this is the perfect time to front-run some of the market’s most predictable surges.

And I’ve got my eye on one large-cap stock that could surge as much as 16.6% in the next 10 days.  

And it’s all thanks to the “January Effect”! 

Of course, I cannot promise future gains or prevent losses…

But if you want the name of the stock I’m focusing on for this year’s January Effect…

Access It Here!

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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