It’s the final day of the latest Federal Open Market Committee Meeting, when the Fed will announce its latest interest rate decision, which will no doubt be a continued pause in hikes.
We also got the latest Producer Price Index inflation report, which showed inflation has continued to cool.
🔸 U.S PPI (MOM) (NOV) ACTUAL: 0.0% VS -0.5% PREVIOUS; EST 0.0%
🔸 U.S PPI (YOY) (NOV) ACTUAL: 0.9% VS 1.3% PREVIOUS; EST 1.0%
🔸 U.S CORE PPI (MOM) (NOV) ACTUAL: 0.0% VS 0.0% PREVIOUS; EST 0.2%
🔸 U.S CORE PPI (YOY) (NOV) ACTUAL: 2.0% VS 2.4% PREVIOUS; EST 2.2%
— *Walter Bloomberg (@DeItaone) December 13, 2023
The big number is year over year excluding energy, with the final number coming in at 2.0% versus expectations of 2.2%, which is good news for stocks.
We really need to pay attention right now to the bond market (TLT).
The markets are pricing in a rate cut by March, but I think Fed Chair Jerome Powell will throw cold water on that notion once he speaks at 2:30 p.m. ET Today.
He’ll likely say it’s still way too early to tell, and that could cause the bond market to drift lower.
I’ve been wrong many times before, but I don’t see a rate cut happening just yet…
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
In today’s all-new briefing…
I’ll discuss the PPI and Fed statement… key levels on SPY… if bonds are overbought… where Wall Street is allocating capital right now… the global economy and play by play ahead of today’s FOMC!
P.S. Which Stock Is ‘On the Clock’ Next?
Most traders buy stocks without knowing about their “Profit Dates.”
And because of that, they stand the risk of getting trapped on a stock that’s entering a sell window.
So if you’ve ever bought a solid stock, only to watch it drop on no news whatsoever…
Then you’re probably a victim of this phenomenon.
But if you can identify these profit dates, you could completely turn the tables…
And hopefully make a meaningful chunk of change off it, too!
If you want to know how to spot these profit dates on stocks…
