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Link for this issue: https://tradingdiary.incrediblecharts.com/2022-09-16-markets.php
 

CPI shock upsets markets

First published September 14, 2022 at thepatientinvestor.com. Excerpt published with permission.

The consumer price index (CPI) dipped to 8.25% (seasonally adjusted) for the 12 months to August but disappointed stock and bond markets who were anticipating a sharp fall.

CPI

The S&P 500 fell 4.3% to test support at 3900. Follow-through below 3650 would confirm earlier bear market signals.

S&P 500

Services CPI -- which has minimal exposure to producer prices and supply chains -- climbed to 6.08%. Rising services costs indicate that inflation is growing embedded in the economy.

CPI Services

Fueled by strong growth in average hourly earnings.

CPI & Wage Rates

But it is not only services that present a problem...

Read the full article >>

Quote for the Week

"Rule #2: Excesses in one direction will lead to an excess in the other direction..."

~ Bob Farrell's 10 rules for investing


Colin Twiggs is director of The Patient Investor Pty Ltd, an Authorised Representative (no. 1256439) of MoneySherpa Pty Limited which holds Australian Financial Services Licence No. 451289.

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