What’s the VIX Saying About This Market? Start a free trial of The Sevens Report.
What’s in Today’s Report:
- What’s the VIX Saying About This Market?
Futures are solidly higher as Thursday’s bounce extended overnight following additional reminders that global disinflation is still on going.
The EU Flash HICP (their CPI) rose 4.3% vs. (E) 4.6% and Core HICP increased 4.5% vs. (E) 4.8%, sending an important reminder that disinflation is still on going.
There was no material progress in avoiding a government shutdown overnight (which at this point is likely).
Today focus will be on the Core PCE Price Index (E: 0.2% m/m, 3.9% y/y) and put simply, if that number meets or is below expectations, then this bounce back rally should continue. If the Core PCE Price Index is higher than expectations, don’t be shocked if stocks give back these early gains. Finally, there is one Fed speaker today, Williams at 12:45 p.m. ET, but he shouldn’t move markets.
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