CPI’s Influence on Market Dynamics: Tom Essaye Quoted by BNN Bloomberg
Nasdaq 100 Drops 1 per cent as Apple slides after event
CPI is really key because if it halts its downward trend, markets will have to price in a more hawkish Fed. And that would be a headwind on stocks, said Tom Essaye, a former Merrill Lynch trader who founded The Sevens Report newsletter.
Lastly, “Put in a more familiar way, CPI impacts two of the three pillars of the rally: disinflation and expectation the Fed is done with rate hikes,” Essaye noted.
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