Looking to Tomorrow’s CPI Report

The stock market opened higher modestly this morning. This could be our fourth up day in a row. On Friday, the S&P 500 closed above its 50-day moving average. That came after a seven-day stretch of being below the 50-DMA.

I think Wall Street is more focused on tomorrow’s CPI report. Some of the major Wall Street investment houses are saying that it’s possible that we’ll see a month-over-month decline in prices. Of course, that would be heavily influenced by energy since gasoline has dropped markedly.

So far, energy and tech stocks are leading the way on Wall Street. On our Buy List, shares of Silgan Holdings (SLGN) made a new 52-week high. At one point, Trex (TREX) was up close to 6%.

This is an interesting day where the market is rallying. At noontime, we’re up about 1% and Utility Sector ETF (XLU) is at a new 52-week high.

Posted by on September 12th, 2022 at 9:53 am


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