What you need to know…

The S&P 500 Index ($SPX) (SPY) today is up +0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.43%.

Stocks this morning are modestly higher, with the Dow Jones Industrials posting a 1-3/4 year high and the Nasdaq 100 posting a 1-week high.  The broader market is wavering ahead of Tuesday’s U.S. consumer price report and the Tue/Wed FOMC meeting results.  U.S. Nov CPI is expected to ease to +3.1% y/y from +3.2% y/y in Oct, while Nov CPI ex-food and energy is expected to remain unchanged at +4.0% y/y. 

The markets will look to the results of this week’s central bank meetings from the Fed, ECB, and BOE to see if policymakers support pausing their interest rate hike campaigns and when they may begin to pivot to easier policies. 

Strength in chip stocks is boosting the technology sector and the overall market after Bloomberg Intelligence said that with a bottom confirmed across... Read more