Gee What a Surprise… NOT!

» Posted by on Oct 11, 2018 in Announcements, Shop Talk, Uncategorized | 0 comments

PPI: The Producer Price Index is a compilation of indexes that measure the change over time of prices by domestic producers of goods and services.

As was expected throughout the entire spectrum of the analysis PPI was reported with an increase of 0.2%. This had no material affect on the early market participants as traders were still absorbed by the yields Treasuries are currently posting. Mostly because the talking heads sensationalize what the empty suits are spouting off about. (My question is… What is the big surprise?) Have not economists foreseen and even called for this more than a year ago?

Now that it has come to fruition they feel the need to sell off the market that has most recently made all time highs. Maybe the truth of the matter is that the “Big Money” as they say, wants to have a buying opportunity going into the release of third quarter earnings and adjust their holdings accordingly for year end. Who knows?

It may follow through with the release of CPI with a consensus increase of 0.2% which would match the rise in August. Well we will see how it goes.

CPI consensus M/M +0.2% SHARPLY unchanged (LOL)

Y/Y + 2.4% within the range of +2.4% to 2.7%. (2.7% being the previous)

Right now at 12:20 AM EDT the S&P 500 Futures are 19.00 lower. ( I would venture to be be a buyer after the reports later today. But that’s just me.)

 

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