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Mar 24 2015

CPI data expected to see its first monthly increase

3/23/15 Market Recap: 

Despite all four major averages hovering around positive levels for most of the day on positive existing home sales data and a weakening dollar, the broad markets closed mixed due to some late day selling and profit taking. The Dow and S&P were able to hang on to slight gains while the Russell 2000 and Nasdaq both decreased, with the latter falling by .31%. Among the S&P sectors, gains outnumbered losses with Consumer Staples, Telecom, and Utilities leading the way. On the other end, Industrials, Financials, and Healthcare lagged. Treasuries increased once again with 10 year yields falling to 1.91%, its lowest point in the last six weeks while the dollar extended its recent selloff against its major counterparts.


Looking Ahead: 

Futures are higher this morning, ahead of a busy economic release day. Consumer price index data, which will come first at 8:30, is expected to see its first monthly increase since October. This will arguably be the most scrutinized data point of the day with the Fed making it clear that inflation, which is currently well below their 2% target, is something that they are monitoring closely. Aside from CPI, investors should also look out for manufacturing PMI and new home sales data coming later in the morning. In overnight trading, the Dollar is slightly lower against the Euro while Treasuries are slightly higher.

 

Don’t miss Money Matters with Gary Goldberg on Sunday at 11 AM on WOR 710 AM Radio for a more detailed discussion of the current economic, market environment and what investors should focus on now. Visit www.ggfs.com for details.