Stocks are on the move higher premarket following the latest Consumer Price Index report, which showed inflation was higher than expected for the month of February.
Month-over-month CPI came in at 0.4% versus expectations of 0.4%, but the important number is core year over, which excludes more volatile food and energy prices, came in at 3.8% versus expectations of 3.7%.
This isn’t bad for the market, though, 3.7% would have been better, and stocks actually bounced on the news.
If the number was 3.9%, that would have been big-time bad news because the Fed would likely have had to push back rate cuts…
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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