Bitcoin ETF Primer (For Discussions With Clients)
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What’s in Today’s Report:
- Bitcoin ETF Primer (For Discussions With Clients)
- Why the Hot CPI Report Didn’t Cause A Larger Pullback
Futures are modestly lower following an increase in geopolitical tensions and subsequent 4% rally in oil.
The U.S. launched multiple missile strikes against Houthi targets in Yemen in response to the recent attacks on commercial ships in the Red Sea and that’s increasing concerns about a broader conflict in the region.
Today focus will stay on inflation via PPI (E: 0.2% m/m, 1.3% y/y) and Core PPI (E: 0.2% m/m, 2.0% y/y) and if we see hotter than expected numbers, look for some additional pressure on stocks. We also have one Fed speaker today, Kashkari at 10:00 a.m. ET, although he shouldn’t move markets.
Additionally, today marks the start of earnings season and we get reports from major banks and a healthcare company today. Reports we’re watching today include: JPM ($3.73), BAC ($0.69), UNH ($5.98), BLK ($8.84), WFC ($1.16), C ($0.73), BK ($1.12).
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