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Strategies & Market Trends : Joe Stocks Trader Talk
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To: Joe Stocks who started this subject3/14/2002 9:14:25 PM
From: Joe Stocks   of 787
 
PPI numbers out tomorrow. I'm looking for a bearish number with some hints of inflation. This from Bond Talk.

12:48 PM
COMMODITY TALK: Risks for the producer price index appear to be tilted to the upside, judging by the continued upward grin in industrial materials prices. Market expectations are for a small increase of just 0.1% (both with and without food and energy) in the February producer price index due out tomorrow. The gains in industrial materials prices are consistent with the recent ISM data as well as other manufacturing-related data, indicating that an increase in industrial production is underway. The Journal of Commerce index, for example, a key gauge of industrial materials price pressures, is now at a new 6-month high of 78.77 and is now well above the 15-year low of 71.22 set on November 5th of last year. Continued increases would be consistent with the notion that the manufacturing sector has stabilized. Federal Reserve Chairman Alan Greenspan is well known to follow industrial materials prices closely, so the rapidity of their recent advance are notable. The gains in the JOC are consistent with the recent gains in basic materials stocks, which remain close to a 52-week high (using the S&P basic materials index as a gauge).
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