💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Data-light Session Ahead Of CPI Tomorrow

Published 12/09/2022, 15:44
Updated 12/09/2022, 16:42
Data-light Session Ahead Of CPI Tomorrow

Good Morning Everyone!

Buckle up, one of our key indicators is flashing red.

Prices as of 4 pm EST, 9/9/22; % YTD

MARKET UPDATE Markets are up ahead of the CPI number tomorrow and positive Ukraine momentum

  • Expectations are for headline inflation to fall from 8.5% Y/Y to at least 8%

  • First week of Conference Season and no major pre-announcements. More conferences this week.

  • China is closed for a holiday

Crude 88 +1%

  • Crude up on weaker U.S. dollar and doubts about a potential Iran nuclear deal

  • Manchin legislation to speed up permitting of traditional fossil-fuel projects faces objections

Railroads

  • Two Unions representing 57,000 engineers and conductors negotiating this week

Earnings: None

CRYPTO UPDATE Friday = Bitcoin’s (CRYPTO: BTC) largest daily gain in 6 months

  • Volume ~2x the 20-day average

  • Outperforming Ethereum (CRYPTO: ETH) and broader crypto markets over last 5 days

  • Recent selloff overdone?

SEC plans new “Office of Crypto Assets”

  • under the Division of Corporation Finance’s Disclosure Review Program (DRP)

  • streamline SEC reviews of documents submitted by crypto firms

Bitcoin Fear & Greed Index

MEME OF THE DAY

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.