Tuesday, May 15, 2007
Jitters before the CPI
Stocks moved lower Monday with the SPX giving up 2.70 points to finish on 1,503.15.
Big news of the day was Daimler annoucing it was selling 80% of its shares to a private equity firm for $7 billion.
Other than that things mostly unexciting as traders await the consumer price index (CPI) due out today before the market open. The hope is that the core rate of inflation at the consumer level will be light with estimates for growth of 0.2 percent. Of course, high energy prices will keep the headline figure strong, but the Fed focuses more on the core rate.
Once we see this report we can make our play.
Until next time.
Big news of the day was Daimler annoucing it was selling 80% of its shares to a private equity firm for $7 billion.
Other than that things mostly unexciting as traders await the consumer price index (CPI) due out today before the market open. The hope is that the core rate of inflation at the consumer level will be light with estimates for growth of 0.2 percent. Of course, high energy prices will keep the headline figure strong, but the Fed focuses more on the core rate.
Once we see this report we can make our play.
Until next time.
# posted by Paul @ 4:57 AM 
