New Market High After CPI

June 12, 2024
Author: Peter Stolcers, Founder of OneOption

The S&P 500 is surging higher after the CPI came in below expectations.

PRE-OPEN MARKET COMMENTS WEDNESDAY - The market is surging higher after the core CPI came in at .2% (.3% expected). This level is almost in line with the Fed's target rate and it will give them some breathing room to ease if economic conditions soften. Recent economic readings (ISM services and the labor report) suggest that activity is steady and the Fed is not likely to cut rates. The FOMC statement will be released this afternoon.

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