Are food costs, options that have zero day to expiration (ODTE) and NVDA earnings interconnected?
Nvidia announces earnings at the close today. The “Magnificent Seven” are 2 and 4 for the reporting season, defined as two companies exceeded expectations while
The PPI rose more than expected, led by a sizeable jump in cost of services and highlighted the sticky nature of inflation. Treasuries sold off across the curve. Fed funds futures are
Will the structural imbalance of the S & P 500 become a major narrative. There are six companies with over $1 trillion or more in market cap, two of which are worth more than
Markets were choppy following the largest equity selloff in a year and the retracement in Treasury yields back to November levels.
The CPI topped forecasts, dashing hopes of a reduction in interest rates by May. June has been pushed to July. As little as three weeks ago, the market was suggesting that
January’s CPI is released at 8:30. Consensus is expected inflation to decline from a 3.4% annual rate to 2.9%. The core rate of inflation is projected to fall from 3.9% to
The revisions to the CPI were uneventful. Some had feared a repeat of last year when inflationary pressures were greater than previously reported, a concern perhaps based upon FRB Chair’s remarks that
Treasury markets breathed a collective sigh of relief that all three Treasury auctions held during the week were met with “strong demand.” Yesterday the government sold $25 billion of the
The massive overperformance of the seven companies that have propelled the indices higher is well known. The dangers of such imbalance have been widely discussed. The massive