Afternoon Note
Major indices are mixed ahead of tomorrow’s CPI index for August. The reading may not influence the Fed ahead of its September meeting, but it will likely set the tone in the following weeks, as Powell weighs the next steps against inflation.
The Street expects an increase of 0.6%, which could boost the 12-month rate to 3.6% from 3.2%.
The median household income by retailer list released by Goldman yesterday is an interesting one. The report says the median household of a TJ Maxx (TJX) shopper is $87k vs. Burlington at $77k or Rost (ROST) at $74k. It raised a big question too, why Banana Republic (GPS) promotes so hard despite its affluent consumer?
Notably, in the 5-year time frame, mid and lower-end retailers have had the best performance.
Crude oil rose 2% and is nearing the $90 mark. The move is propelling the energy sector to lead its peers by a wide margin. Disappointing quarterly results and guidance from Oracle (ORCL) are pouring some cold water on the Technology sector, which sits at the bottom of the board.
Apple (AAPL) is holding an event today and will provide updates on some products such as the iPhone 15, ios17, USB-C charger, AirPods, etc. AAPL is down on the day, but off the worse levels.
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5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
4/24/2025 9:35 AM | VIOLENT SWINGS AND THE RECOVERY |
4/23/2025 1:45 PM | Fears Ease |
4/23/2025 9:38 AM | FUNDAMENTALS & HOPE |
4/22/2025 12:42 PM | Tuesday Reputation |
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