BAL 
$61.00  0.29%  
CANE 
$13.54  0.14%  
JO 
$54.00  1.22%  
NIB 
$36.29  1.65%  
IEF 
$93.60  0.32%  
^UGA-IV 
$65.52  0.93%  
UNG 
$16.62  12.53%  
USO 
$73.20  1.08%  
FXA 
$64.87  0.03%  
FXB 
$121.58  0.08%  
FXC 
$72.41  0.10%  
FXE 
$99.94  0.09%  
FXF 
$101.17  0.21%  
FXY 
$61.67  0.13%  
UUP 
$28.02  0.11%  
CORN 
$19.25  1.64%  
SOYB 
$24.41  1.51%  
WEAT 
$5.37  0.19%  
JJC 
$19.56  1.24%  
GLD 
$187.48  0.01%  

Market Insights Thursday Feb. 23

Markets

John Caruso Senior Market Strategist       Good morning,   Market Insight:   *Eurozone CPI mm -0.2% vs -0.2% exp vs -0.4% prev. *Eurozone CPI yy 8.6% vs 8.6% exp vs 8.5% prev. *BoE’s Mann: Further tightening and sooner rather than later likely is needed *US Fed Swaps upgrade bets on 25pbs hike in […]

Comin’ In HOT!!!!!! PPI Data Shoots Up

PPI

PPI Comes In Hot, Increasing .7%   PPI ⬆️ .7% Final Demand Less Energy, Food, Trade ⬆️ 4.5%   The Producer Price Index for final demand increased 0.7 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.2 percent in December 2022 and advanced 0.3 percent in […]

Economic News Update: Video

Economic News

Monday Morning Market and Economic News update, John Caruso recaps market performance from last week. JOLTS update, Fed interest rate hike. 5% is likely for the next meeting of the Fed. Is Powell starting to become less hawkish? Watch John’s chart review of the S&P 500, VIX, Gold, and more. Be sure to subscribe to […]

Deese Out! White House Confirms Director of NEC’s Departure

NEC Director

National Economic Council Director Steps Down. NEC Director Brian Neese Resigns. President Joe Biden’s top economic adviser, Brian Deese, is leaving his post. Biden said Thursday in a statement that Deese would step down as director of the White House National Economic Council. In a statement moments ago Deese said “It has been an unspeakable […]

Jobless Claims Fall, More Tech Layoffs Loom

unemployment

Jobless Claims Fall to Lowest Level Since April ’22 Initial Jobless Claims in the US decreased by 3,000 in the week ending January 28. US Dollar Index stays slightly above 101.00 after the data.   There were 183,000 initial jobless claims in the week ending January 28, the weekly data published by the US Department […]

Federal Reserve Stays Course, Raises Rates

Federal Reserve

Federal Reserve Interest Rate Increase of .25 Brings Benchmark Rate to its Highest Level Since 2007.   The Federal Reserve raised short-term interest rates Wednesday by a quarter percentage point, bringing its benchmark rate to a new range of 4.50% and 4.75%, the highest level since October 2007. The central bank acknowledged the slowdown in […]

Income Up, Spending Down, Ahead of Fed Meeting

BEA Income & Outlays

Personal Income Increased, Spending Drops. Personal income increased $49.5 billion (0.2 percent) in December, according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $49.2 billion (0.3 percent) and personal consumption expenditures (PCE) decreased $41.6 billion (0.2 percent). The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased […]

US GDP Beats Expectations, But Still Presents Challanges.

US Economy GDP

GDP Comes in Better Than Expected, But lower than Q3   Fourth-quarter GDP increases at 2.9% rate Consumer spending solid; business investment weakens Weekly jobless claims fall 6,000 to 186,000 Real GDP grew at an annualized rate of 2.9% in the fourth quarter relative to Q3-2022. The outturn was a bit stronger than the consensus […]

PPI Remains Hot, Despite December Drop.

Producer

Wholesale Inflation Falls to 6.2% Beating Estimates, Continuing the Decline Seen in the Last Half of 2022.   U.S. producer prices fell more than expected in December. Leading the decline was a drop in energy and food prices. December PPI final demand decreased 0.5%. Data for November was revised lower to show the PPI rising […]

CPI December Decrease, Yet Remains Persistently High

CPI

CPI December Decrease, Yet Remains Persistently High December CPI Headline Inflation fell .1% comes in at 6.5% Y.O.Y. The Bureau of Labor Statistics said December showed a decrease in headline inflation fell 0.1% month over month. That was largely in line with most economist predictions. Headline number remains hot at 6.5% year over year but […]