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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (8388)	10/17/2000 7:13:23 PM
From: Sully-	Respond to of 65232

Economic Calendar for Wednesday CPI/Core CPI CPI: Consumer Price Index Importance (A-F): This release merits a B+. Source: Bureau of Labor statistics, U.S. Department of Labor. Release Time: 8:30 ET, about the 13th of each month for the prior month. Raw Data Available At: stats.bls.gov. The Consumer Price Index is a measure of the price level of a fixed market basket of goods and services purchased by consumers. CPI is the most widely cited inflation indicator, and it is used to calculate cost of living adjustments for government programs and it is the basis of COLAs for many private labor agreements as well. It has been criticized for overstating inflation, because it does not adjust for substitution effects and because the fixed basket does not reflect price changes in new technology goods which are often declining in price. Despite these criticisms, it remains the benchmark inflation index. CPI can be greatly influenced in any given month by a movement in volatile food and energy prices. Therefore, it is important to look at CPI excluding food and energy, commonly called the "core rate" of inflation. Within the core rate, some of the more volatile and closely watched components are apparel, tobacco, airfares, and new cars. In addition to tracking the month/month changes in core CPI, the year/year change in core CPI is seen by most economists as the best measure of the underlying inflation rate. Briefing Forecast CPI 0.5% Core CPI 0.3% Market Expects CPI 0.4% Core CPI 0.2% Housing Starts and Building Permits Importance (A-F): This release merits a B-. Source: The Census Bureau of the Department of Commerce Release Time: 8:30 ET around the 16th of the month (data for one month prior). Raw Data Available At: census.gov. Housing Starts are a measure of the number of residential units on which construction is begun each month. A start in construction is defined as the beginning of excavation of the foundation for the building and is comprised primarily of residential housing. Building permits are permits taken out in order to allow excavation. An increase in building permits and starts usually occurs a few months after a reduction in mortgage rates. Permits lead starts, but permits are not required in all regions of the country, and the level of permits therefore tends to be less than the level of starts over time. The monthly national report is broken down by region: Northeast, Midwest, South, and West. Briefing recommends analyzing the regional data because they are subject to a high degree of volatility. The high volatility can be attributed to weather changes and/or natural disasters. For example, an unexpectedly high level of rain in South could delay housing starts for the region. Briefing Forecast Building Permits 1.500M Housing Starts 1.555M biz.yahoo.com ====================================================================== MKT VOLTLTY NDX - VIX Close 32.71 Day's Range 28.53 - 33.51 finance.yahoo.com^VIX&d=1d ====================================================================== NAZ Futures - down 21 points cme.com ====================================================================== Ö¿Ö