The major indexes closed up on Wednesday afternoon, looked set to open lower — and more in Thursday’s stock market recap.
And this speaks to a pattern I’ve noticed with the last four or five big reports — the U.S. economy is trying to shrug off negative information, but the global economy and in particular the European economy are having a harder time digesting the data.
The U.S. market will often trend higher following a negative report. But once the data catches up to the European market, their indexes sags, causing the U.S. market to then dip lower overnight and into the following morning.
We also have two more reports on the schedule for today — jobless claims and the Producers Price Index (PPI). Jobless claims have been within the four-week moving average, so I’m not expecting any surprises there.
The big report is the PPI. This is going to tell us how inflation is affecting producers, and might give us some indication of whether or not inflation has truly peaked…
*Stated results are atypical for given period. Past performance is not indicative of any future results. Trade at your own risk.
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