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Strategies & Market Trends : Humble1 and Swing Trading Friends
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From: humble110/9/2024 10:49:38 PM
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Investors will closely watch September’s CPI report due Thursday morning, looking for further signs that inflation is on a cooling trend. Economists polled by Dow Jones anticipate a 0.1% increase on a monthly basis, and a 2.3% advance over the prior 12 months.

The result will also inform the Federal Reserve’s next steps on policy at its November meeting. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group’s FedWatch tool.

Stephanie Roth, chief economist at Wolfe Research, thinks a 50 basis point cut is “off the table,” and the question is now whether the Fed will trim rates by 25 basis points or hold steady in November. “Base case for us is that they’re able to cut,” she said Wednesday on “Power Lunch.” “Tomorrow’s CPI should be supportive of that, something with core CPI coming in at 0.3%.” Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2% on a monthly basis.
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