The Day Ahead: Housing Starts and Inflation Data
Sitting comfortably at 13-month highs, equities are beginning the day moving sideways ahead of data on inflation and the housing market. The Dow looks to open 21 points higher at 10,419 and the S&P 500 is 2.5 points up at 1,110. The dollar index index is down 0.50% to 75.0, 37 cents below Tuesday’s close. Its weakness continues to boost commodity prices as foreign investors find their prices attractive. Oil is once again past the $80 mark, while gold prices are trading at $1,147.40 per ounce, a new record high. Key Events Today: 8:30 ? The Consumer Price Index is expected to remain broadly unchanged in most categories , but higher energy prices should should push the headline up 0.2% overall. The core CPI, which excludes food and energy prices, is expected to inch up 0.1%. “The…(read more)
