We got the latest Producer Price Index inflation report Thursday morning on the heels of Wednesday’s hot Consumer Price Index…
We were already expecting the number to be on the upper end of the range, and while it doesn’t have quite as much firepower to move markets, but stocks are surging.
PPI came in at 2.1% year over year versus expectations of 2.2%, so slightly under expectations and likely why the market reacted so positively.
Core PPI excluding food and energy prices rose 2.4% year over year versus expectations of 2.3% (0.2% month over month, which is in line with expectations).
This is not great, but it’s not bad overall, and the futures market sure seems to like it.
Jobless claims, meanwhile, came in at 211K versus expectations of 215K and $221K previously.
The bond market (TLT) has continued its falling wedge pattern…
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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