The markets were down quite a bit ahead of Thursday morning’s Personal Consumption Expenditures report, but then things took a turn…
The PCE index excluding more volatile food and energy prices rose 0.4% for the month of January and 2.8% year over year, in line with estimates.
The Federal Reserve watches this index to gauge inflation.
Jobless claims also came in higher than expected, but this measurement almost seems broken and has gotten useless. The issue was the number hasn’t been over 200,000 for a couple of years now.
However, it did spike to 215,000 today versus estimates of 210,000.
While there’s still a chance we could see a rate cut by May, I believe it won’t happen until the second half of the year.
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. This May Raise Some Eyebrows, but It’s True — IF You Know Where to Look
I’ve stumbled upon something in the options market that’s frankly remarkable — a “pricing mismatch” that’s been quietly racking up gains.
I’m talking double, sometimes even triple digits off stock moves as minimal as 1-2%.
Now, you might be thinking, how does a modest stock movement lead to a big spike in the prices of its options? Seems a bit out there, right?
Believe me, I’ve raised a few eyebrows with this one — until, that is, I laid out the proof.
So, before you decide this is too good to be true, take a moment to see for yourself…
