Wednesday, March 22, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

S&P, Dow, Nasdaq futures, yields tread water with all eyes on CPI

by Euro Times
October 13, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Spencer Platt/Getty Images News

Stock index futures are climbing Thursday on the heels of six-straight down days for the broader market. But direction will be dictated by consumer inflation figures.

S&P futures (SPX) +0.5%, Dow futures (INDU) +0.5% and Nasdaq 100 futures (NDX:IND) +0.3% are in the green.

If the S&P falls for a seventh-straight session is “would be the worst run for the index since February 2020 as fears about the global spread of Covid-19 ramped up,” Deutsche Bank’s Jim Reid said. “Whether that happens could largely hinge on today’s all-important CPI print from the US, which is the last big piece of data the Fed will get ahead of their next decision in just under 3 weeks’ time.”

“Bear in mind it was only last month that the stronger-than-expected reading on core CPI sparked a big re-evaluation about when the Fed would slow down their rate hikes, with futures pricing out the chances they’d adjust to 50bp hikes in November in favor of a continued 75bps pace,” he said. The S&P plunged 4% that day.

September CPI arrives at 8:30 a.m. ET with economists expecting annual headline inflation to ease back to 8.3%, but core CPI to revisit its peak at 6.5%. For the month, CPI is seen up 0.2% with core up 0.4%.”

“Almost a quarter of CPI is the fictitious owners’ equivalent rent measure – a price nobody pays,” UBS chief economist Paul Donovan said. “US homeowners have a lower cost of living than CPI suggests. Economists need the expertise of used-car dealers, with CPI influenced by the rapid slowdown in used-car prices. New car inflation is weird (last month the inflation was almost 33% y/y in Baltimore, and barely 6% in Los Angeles).”

Rates are unsurprisingly treading water ahead of the data. The 10-year Treasury yield (US10Y) is flat at 3.90% and the 2-year yield (US2Y) is up 1 basis point to 4.30%.

“The 10yr yield has popped above 4% twice in the past few weeks (for the second time yesterday), and seems reluctant to push on above,” ING said. “But in all probability should we see a 6.5% core CPI inflation reading confirmed today, it should provide enough ammunition for it to make the break above. Yes, it’s what is discounted. But confirmation still has real meaning.”

At the same time as CPI, weekly jobless claims figures are out. The forecast is for a rise to 225K.

Among active stocks, Duck Creek Technologies is jumping following earnings. Applied Materials is lower after cutting outlook.



Source link

Tags: CPIDoweyesFuturesNasdaqtreadWateryields
Previous Post

Rising nuclear fears spur debate over red lines in Ukraine war

Next Post

Credit-default swaps are an unfairly maligned derivative

Related Posts

Stellantis to invest €130M in German assembly plant By Investing.com

by Investing.com
March 22, 2023
0

© Reuters. Stellantis (STLA) to invest €130M in German assembly plant By Michael Elkins Stellantis (NYSE:) announced Wednesday that the American...

Euro pushes higher as ECB chief Lagarde says inflation is still too high

by Euro Times
March 22, 2023
0

European Central Bank (ECB) President Christine Lagarde announces a new monetary policy decision.Frederick Florin | Afp | Getty ImagesThe euro...

Corus Entertainment: The Bottom Is Yet To Come (TSX:CJR.B:CA)

by Euro Times
March 22, 2023
0

skynesher Investment Thesis Despite a handsome yield of 7.4% with ample free cash flow coverage, Corus Entertainment (OTCPK:CJREF) is a...

Bajaj Finserv’s Sanjiv Bajaj calls Indian banking strong, asks banks to keep focusing on risk management

by zee business
March 21, 2023
0

Sanjiv Bajaj, chairman and managing director of Bajaj Finserv Ltd, and president of the Confederation of Indian Industry, reinforces his...

Mobileye reports judicial overhaul as risk factor

by Shiri Habib-Valdhorn
March 21, 2023
0

Israeli companies traded on Wall Street continue to report on the judicial overhaul as a risk factor in their...

UBS Aims to Boost Its Dealmaker Ranks, Not Spin Out First Boston

by Dinesh Nair
March 21, 2023
0

UBS executives have told their Credit Suisse counterparts that they prefer selectively bolstering their own investment bank while dumping the...

Next Post

Credit-default swaps are an unfairly maligned derivative

Energy shocks can have perverse consequences

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stellantis to invest €130M in German assembly plant By Investing.com

March 22, 2023

explaining a long, complicated friendship

March 22, 2023

South Africa Feb inflation higher than forecast as power cuts bite By Reuters

March 22, 2023

EMB ETF: EM Bonds In A Sweet Spot Amid Fed Policy Reversal

March 22, 2023

MetaMask Partners With MoonPay To Enable Instant Crypto Purchases In Nigeria

March 22, 2023

Euro pushes higher as ECB chief Lagarde says inflation is still too high

March 22, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Stellantis to invest €130M in German assembly plant By Investing.com

explaining a long, complicated friendship

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In