World stock index set for record high, dollar dips after PPI, Powell

Everything was humming along relatively flat until about 1:30, the lack of enthusiasm attributed to a hotter than expected PPI report. It must have been at 1:30 that Powell made his remarks opining that even though the PPI was bad inflation news, prior data had also been revised lower so, taken together, the consensus was “mixed,” not “hot.” That triggered a buying spree closing the Dow and Nasdaq out at low 3-digit gains. But the big report comes Wednesday with the CPI. Volume came in at 13.9 billion, not just above average for a change, but considerably above average. If the CPI report is pleasing, volume should go through the roof Wednesday. 

S&P 500 barely changes as investors hold tight ahead of inflation data

All the indexes opened the day higher, the Dow a nifty 130 points, then all slowly declined except the Nasdaq which continues to benefit by the continuing AI fever. But the bottom line is that consumer expectations over worsening inflation has put a damper on everything while everyone sits on the fence waiting for a slew of inflation reports this week including the CPI on Wednesday and later the PPI, retail sales, jobless claims and big retailer earnings. The CPI particularly has been the biggest market mover in the last three months. Prices are expected to have risen 3.6% annually.  Volume came in at 10.09 billion, still below the 10.79 billion average as the markets await more data. 

Exciting Bond Returns

Here is Part II of this weekend's inquiry into safe assets. This time it's all about the exciting new bond market.  Hope everyone had a great Mother's Day and a great weekend.  

5 of the Best Gold Stocks to Buy Now

This weekend's theme will be on safe assets. Today, it's all about gold ... 

Wall Street closes up, another weekly gain ahead of inflation data

The markets all started on a high, then took a dive immediately out the gate until about 11:30 when all three indexes started a recovery that went through close with the S&P and Nasdaq closing near flat, the Dow doing better with a respectable 3-digit gain. It might have been around that time that the Atlanta Fed prez made the statement acknowledging that the economy was slowing, though this was tempered by the Dallas Fed prez saying monetary policy might not yet be tight enough. 

Dow closes up to make it seven in a row, as jobs data boosts rate-cut hopes

It was another day straight up on all the indexes, the Dow up for a 7^th session in a row, as new claims for unemployment increased by 16,000 more than forecast and thus provided new optimism for rate cuts and today’s buying spree has brought the market to an almost full recovery from the recent downturn. The calming of the bond market has also helped boost stocks. Volume was 9.9 billion, same as yesterday, still below average. 

Stocks slip, dollar gains as market awaits inflation data

The Dow spent the whole day in the black, the S&P and Nasdaq on the other end. But all three took a jolt upwards at 1:30 which put the Dow nicely into 3-digits and the others near flat again. It was yet another “take-a-breath” day as concerns continue about inflation heating up and putting the brakes on rate cuts. The Boston Fed prez today saying the economy needs to continue to cool off didn’t help which is why all eyes now anxiously wait next Wednesday’s CPI data to see if we’re on course to reach the Fed’s 2% target.