Market Overview Analysis by Ipek Ozkardeskaya covering: Euro US Dollar, S&P 500, Citigroup Inc, Bank of America Corp. Read Ipek Ozkardeskaya's latest article on Investing.com
Oops. Inflation in the US came in hotter than expected in September, both on a monthly and yearly basis. The headlineeased less than expected from 2.5% to 2.4%, while core inflation unexpectedly ticked higher from 3.2% to 3.3%. Nothing looked encouraging in that inflation report for the Federal Reserve doves.data released at the same time as the CPI report.
The market reaction to yesterday’s US CPI data was mixed. The stock investors’ first reaction was hesitation. There has been an initial selloff, followed by some dip-buying, then a selloff again. At the end, theended the session 0.
A higher-than-expected US PPI print today could back a deeper dive in the EUR/USD before the weekly closing bell, and a broader strength of the US dollar against other peers as some components in the PPI report affect the PCE index that the Fed uses as its favorite gauge of inflation to decide what to do with their policy.Either way, the bank earnings will steal a part of the investor attention to the earnings season today.
S&P 500 Citigroup Inc Bank Of America Corp
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