Afternoon Note
The market is reversing after the initial CPI pullback faded and now all the major indices are in the plus column. Treasuries have been relatively calm after this morning’s reaction.
The CPI report released this morning presented a mixed bag that keeps the chances for a rate hike in November lower.
We saw health insurance moving in a worrisome direction (+2.1%m/m vs +0.3% in July) and shelter inching up 0.3% and reaching its 40th straight month of gains. The good news on inflation is, some pandemic items are starting to see some actual price “drops.”
Sector performance has been mixed with utilities leading while energy lags.
Airline stocks are contributing to today’s losses in the Industrial sector. This morning, Spirit Airlines (SAVE), Frontier Group (ULCC) and American Airlines (AAL) warned about Q3 guidance.
I will do an Arm Holdings IPO review in tomorrows morning commentary.-CP
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7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
6/23/2025 1:47 PM | Getting Some Resolve |
6/23/2025 9:51 AM | BRACING |
6/20/2025 1:29 PM | Second Triple Witching |
6/20/2025 9:38 AM | POWELL BLEW IT |
6/18/2025 12:41 PM | FED Day |
6/18/2025 9:45 AM | ROOM WITH A VIEW |
6/17/2025 1:26 PM | Tension Continues |
6/17/2025 9:50 AM | THE BIG TECH TEN & CO |
6/16/2025 1:34 PM | Fears Subside |
6/16/2025 9:44 AM | DRUMBEATS OF PEACE |
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