Author: Zac Martin, Investment Associate
Week Ending March 15th
- Core CPI had a positive surprise by 0.1 and headline CPI reaccelerated to 3.2% year-over-year v. 3.1% in January’s report.
- PPI also saw a strong surprise of 0.5, reaccelerating to a 1.6% change year-over-year.
- This surprise has led the probability of an interest rate cut in June to 59%, down from last month’s probability of 76%.
- Initial Jobless Claims came in less then expected and decelerated to 209k. Continuing Claims were also below expectations but increased to 1.811M.
- Retail sales for February were reported lighter than expected, only increasing 0.6% month-over-month.
The week ahead:
- Nvidia’s GTC Ai conference (3/18).
- Housing Starts and Building Permits (3/19).
- FOMC Fed Funds Target Rate – most anticipated event this week (3/20 @ 2pm).
- Followed by several earnings reports: GIS, MU (3/20), DRI, ACN, FDX, NKE (3/21). S&P Flash PMIs (3/21).
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