Back when we kinda liked Ron Howard ... (had to grab this from another thread)
Posted on 07/13/2022 3:18:44 AM PDT by John W
Stock futures rose slightly Wednesday as investors awaited a key inflation report that is expected to show a fresh high.
Futures tied to the Dow Jones Industrial Average advanced 61 points, or 0.2%. S&P 500 futures climbed 0.2%, and Nasdaq 100 futures gained 0.3%.
The consumer price index, slated for release at 8:30 a.m. ET, is expected to climb by 8.8% in June on a year-over-year basis, according to Dow Jones' survey of economists. That would be even higher than May's 8.6% reading, which was the biggest increase since 1981.
"The market is anticipating that June will be the new peak," said Lindsey Bell, Ally's chief markets and money strategist. "The reading is likely to confirm what the jobs report on Friday told us – that the Fed will stick to their aggressive rate tightening timeline."
The likely hot reading could prompt the central bank to hike another 75 basis points during this month's meeting. Last month, the Fed raised its benchmark interest rates three-quarters of a percentage point to a range of 1.5%-1.75% in its most aggressive hike since 1994.
"The Fed's credibility will be tested in coming months with the release of inflation numbers and corporate earnings," said Andy Sparks, head of portfolio management research at MSCI. "The Fed's recent aggressive actions to bring down inflation also run the risk of overshooting, pushing an economy that had been showing signs of weakness into a full scale recession."
(Excerpt) Read more at stocks.apple.com ...
It’s just transient,
Manipulating inflation numbers has been priority one and wall street knows it. Soon to be revised as usual.
We’re saved!!
Yippee!!
I’d love to be back trading US treasuries right now. Inflation and volatility are all you ever could ask for.
Soon.
I was doubtful that Biden could fix the economy, but he’s done it! The man is a genius. Happy days are here again!
How real can these valuations be when they need so much government intervention?
Woohoo!!!
Let’s all go in as much debt as we can!!!
I filled up my gas tank last night, so.......
OTOH, hit the local grocery store, they were out of the steak specials I was looking for so.......rainchecks. So I noticed a few other specials. Turns out most of the items were even cheaper than the shelves said. Except for the salad kits which were as advertised.
So I picked up a few things for the old prepper supply - it’s down a bit from rotation.
14 - 24 oz cans of spaghetti sauce - lots of food cheaply
4 - salad kits - lettuce, other salad components, dressing, toppings, etc.
2 - 24oz ketchup in plastic squeezable bottles
2 - 20oz mustard in plastic squeezable bottles
Total spent: $27:43 - with tax: $28.90.
I was pretty pleased when the total came up.
I bought several KC strip steaks for $5 the other day. 6 still in the freezer.
Figured I had better buy before it gets worse.
0.2% is a statistical blip. MSM trying to read optimism into it is pathetic.
We are being set up here. Inflation is not accelerating. They are going to push that narrative through the DNC Media. The back up is the “pandemic” to change how we vote.
My grocery bill is up $50 a week now, for all of the same things I’d normally buy. Been doing the usual continual stockpiling where I can. Gas is still ridiculously expensive, but it has come down a bit in Wisconsin; didn’t check other states.
Really glad we raised a beef steer last year; will be getting a culled steer to raise from our Dairy Farmer Neighbor again in the near future.
Other than shopping Loss Leaders, keeping things as local as I can, I’m kind of tapped out on other ideas. Not spending ANY money on home improvements this year, which is rare for ‘This Old House.’
Out to water the garden, which will eventually provide us with lots of canned goods in the future. If we even HAVE a future. ;)
Precious Metals are SERIOUSLY in the dumpster - but along with their usual Summer Doldrums, it’s definitely effected by, ‘The Economy, Stupid!’
Let’s Go, Brandon! *SPIT*
The article has been updated.
“Dow futures drop 400 points after much hotter-than-expected inflation report.”
Welcome to, ‘Brandon’s Gasless and Cashless Society!’
We’re so screwed. :(
CNBC is the CNN of financial news. This is them desperately trying to spin something, anything positive on the economic catastrophe
This post did not age well.
It’s down more than 300 points now.
I am glad it was posted before it disappeared forever down the memory hole.
It is interesting to watch CNBC rewrite the linked article throughout the day. It went from “Stock futures tick higher with all eyes on June’s inflation report” immediately before the report came out, to “Dow futures tumble more than 400 points” immediately after. As of 1:45 p.m. Central Time it reads “Dow falls 100 points, stocks gyrate after hot inflation report.”
Wherever the marked closes today, it will be exactly as CNBC predicted it would close in their (new and improved) article.
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