Jul 14, 2021
The markets were mixed on Tuesday after a hotter than expected CPI figure sapped euphoria over better-than-expected earnings. Reports from JPMorgan and Goldman Sachs along with PepsiCo, and ConAgra we're all better than expected but did not provide enough boost to spark a rally.
The good news was tempered by a 0.9% increase in consumer prices over the past month, an increase that has prices up nearly 5.5% from last year. With the FED in an obvious wait-and-see mode in regards to inflation, the market has little choice but to follow suit. The question is whether the market will hover at current levels or choose to take cash off the table while it waits. Today's producer price index news could be the bit that tips the scales.