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Market Commentary

Inflation Expectations Slams Market

By Charles Payne, CEO & Principal Analyst
10/13/2023 12:59 PM

The market was ready to take off, and for the second session in a row, it was slammed. But this was news that keeps the Fed in play.

After the Michigan Consumer Sentiment release, the market turned lower, hard and fast.

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Sentiment declined sharply, but the part of the report that took all the air of stocks was the Inflation Expectations.

Consumers see inflation a year from now at 3.8% up from 3.2% in September.

Higher prices are hitting everyone, and today, they are indirectly hitting the stock market.

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The NASDAQ is fading the most after a string of strong weeks.  I don’t like seeing it fail at the 200-day, although, getting above these hurdles is often a process.



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