Stocks Up Ahead of Tomorrow’s CPI

The CPI report comes out tomorrow. The recent trend has been favorable so it will be interesting to see if that continues. Wall Street expects January inflation to come in at 0.5% and the core rate to be 0.4%.

Tomorrow’s CPI report will have a slightly different methodology. The categories’ “weights” will be redone and based off spending data from 2021. Owners equivalent rent will now be a little over 25%.

The stock market is up 0.93% at noon today. Once again, the High Beta stocks are leading the Low Volatility names.

Last week was the worst week for stocks this year. I wouldn’t be surprised to see some pushback this week. We’re in the latter half of earnings season but there are still many reports left to see. Microsoft and Meta are having good days. Both stocks are up over 3%.

The U.S. shot down its fourth balloon, or whatever it is. The U.S. and China may be meeting later this week at the Munich Security Conference.

Jack Henry & Associates (JKHY), a stock I like to follow, raised its dividend today by 7% to 52 cents per share. This is its 34th consecutive dividend increase.

Posted by on February 13th, 2023 at 12:20 pm


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