617 days ago • Posted by Paul de La Baume
#Nasdaq spikes on lower #inflation data! #CPI #stocks #economy #trading #forex $SPY $QQQ
US Consumer Price Index (CPI) came lower than expected at 8.5% year-over-year in July, a high number but lower than the 8.7% expected, and 9.1% recorded in June. Core CPI is still high at 5.9% versus 6.1% expected, a reassuring number for investors who are looking at the glass as half full. The most important for markets is that inflation doesn't increase and trends lower in the coming months. As it decreases the odds of a September 0.75% hike, stocks are surging, with high PE stocks surging the most as those are highly sensitive to Treasury yields.
