Market Musings 11/13/2024
Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store!
Markets are essentially flat after sticky October inflation comes in as expected.
Overall CPI inflation grew 0.2% M/M in October.
It was in-line with expectations and consistent with recent months.
Housing and food was the majority of the growth plus an ongoing steady uptick in airfare. While most other prices fell, these are probably the most visible to people.
Meanwhile Core CPI, excluding energy and food, grew 0.3% M/M－also in-line and consistent with recent months.
Core #Inflation remains sticky and plateauing above the Fed’s annual 2% target.
While still manageable, something to keep an eye on given the lack of improvement. However, focus on #Inflation has decreased with rate cuts already started.
As expected, markets were largely unchanged today.
Markets have calmed down after the election rally last week.
We’ll get more #Inflation data tomorrow and retail sales on Friday, but we don’t expect too much volatility until next week.
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Original Photo by Pixabay.