US index futures have been rallying since the US consumer price report came out at 8:30 am EDT and are now up 0.1%-0.2%. The US Dollar Index basket has been falling on the news and is now down 0.25% which has helped to boost WTI crude oil to a 0.5% gain today and cut copper’s losses to 1.3% from 1.6% while gold has erased overnight declines and is currently trading flat.
Headline inflation for August was 5.3% over year, in-line with expectations. What appears to have excited investors was the core inflation (excluding food and energy) number which was less than expected (4.0% vs street 4.2%), which may ease some of the pressure on the Fed to start tapering.
More consumer price inflation numbers are due tomorrow from several countries including Canada and the UK. Tonight brings house price inflation, retail sales and industrial production reports for China.
SIA Wealth Market Outlook Webinar Tuesday September 14th, 2:00 pm EDT
Please join us on Tuesday Sept.14@ 12pm MT / 2pm ET for our Market Outlook Webinar with Colin Cieszynski – Chief Market Strategist. He will answer the most asked questions we have received from advisors over the past month.
Register for webinar: https://attendee.gotowebinar.com/register/235126574909929743
After registering, you will receive a confirmation email containing information about joining the webinar. A replay will be available and sent to all registrants after the webinar.
SIA Wealth In The Media:
Chief Market Strategist appeared on BNN Bloomberg where he discussed current market trends, risks, inflation and sector rotation.