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This Week’s Market Recap… 📊

This week was notably quieter for the markets and news, following two of the most impactful weeks of the year. The focus shifted to two key inflation reports: CPI on Wednesday and PPI on Thursday.

The CPI report met expectations, with a monthly increase of 0.2% and an annual rate of 2.6%. Core CPI, excluding the more volatile food and energy sectors, came in at 0.3% month-over-month and 3.3% year-over-year.

Initially, the market reacted positively, with Treasury yields falling and the likelihood of a Fed rate cut in December jumping to 75%. However, as the day progressed, yields reversed course and stocks declined.

The PPI data on Thursday also aligned with forecasts, with a monthly increase of 0.2% and a yearly rise of 2.4%. Later that day, during a brief press conference and Q&A, Jerome Powell noted there was no urgency for the Fed to cut rates, emphasizing the strong performance of the U.S. economy, particularly compared to other nations.

Best Tweet of the Week!

The Headline of the Week is Bitcoin Hitting a New All-Time High of $93k.

My Schedule This Week!

Tune in every Monday and Friday for in-depth Market Analysis, Recaps, and our Spaces Schedule.

Thanks for reading and have a great week!

-Samuel

Have a Blessed Weekend!

Disclaimer: Wolf Financial does NOT offer financial advice. All content provided is strictly for informational purposes. Wolf Financial is not registered as an investment, legal, or tax advisor, nor as a broker/dealer. Please be aware that trading any stock or crypto-related asset carries inherent risks and may lead to substantial capital losses.