A hotter-than-expected February inflation print was largely driven by two components: shelter and gas. The shelter index rose 5.7% on an unadjusted annual basis and 0.4% month over month, a deceleration from January’s 6% annual increase and 0.6% monthly rise. Sticky shelter inflation is largely to blame for higher core inflation readings, according to economists. The index for rent and owners’ equivalent rent (OER) rose 0.5% and 0.4% on a monthly basis, respectively. Owners’ equivalent rent is… Source link
Read More »Wall Street Caught Off Guard by ‘Sticky’ CPI Signs: Markets Wrap
(Bloomberg) — Wall Street got a reality check on Tuesday, with hotter-than-estimated inflation data triggering a slide in both stocks and bonds. Most Read from Bloomberg Equities pushed away from their all-time highs as the consumer price index topped estimates across the board. Treasuries sold off, with two-year yields hitting the highest since before the Fed’s December “pivot.” Swap traders ratcheted down their expectations for a central bank cut before July. The stock market’s… Source link
Read More »Coca-Cola and Airbnb earnings, January CPI: What to Watch
Yahoo Finance Live anchors Josh Lipton and Julie Hyman preview the top headlines and data investors should pay attention to for Tuesday, February 13, including earnings out from companies like Coca-Cola (KO) and Airbnb (ABNB), as well as January’s Consumer Price Index (CPI) print. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor’s note: This article was written by Luke Carberry Mogan. Source link
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