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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?
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To: Rob C. who wrote (17659)2/23/2001 4:15:02 PM
From: noiserider  Read Replies (1) of 20297
 
Rob,

It looks like the rise in the Jan CPI was driven by energy costs and services. Neither, I believe, is related to Dec. price discounting.

And wasn't that a nice finish. Is it a sucker rally?

regards,

Noise

from briefing.com
********************************

Highlights:
January CPI rose 0.6%, 0.3% core.

Key Factors:
The 3.9% surge in energy prices provided half the CPI gain.
Medical care jumped 0.6%, twice the size of the trend increase.
Tobacco prices rose 1.9%.
1% surge in housing is deceiving; 0.3% rise in shelter, 5.9% jump in fuels/utilities.
0.5% rise in vehicles came from 0.9% rise in used, new rose just 0.1%.
Annual growth in CPI lifted back to 3.7%. Core steady at 2.6%.
Services (58% of CPI) trends higher at 4.5% yoy, ex-energy 3.4%.

Big Picture:
The rise in energy prices and building pressure in service costs leave CPI at 3.7% as the uptrend continues despite the softening in the economy. The CPI core is on the rise as well despite the trend softening in wholesale price pressures. However, rising labor-intensive service costs are a concern (whether the Fed notes it or not) as are medical care costs. The broad resistance against higher prices is reassuring as commodity and service prices play opposing roles and expectations are tame. Strong productivity growth, fierce price competition and the economic slowdown are muting what would be far stronger underlying price pressures
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