Morning Commentary
The NASDAQ is rebounding this morning after a two-day drubbing, suffering from its largest decline since December. Technology names including the FAANG (Facebook, Apple, Amazon, Netflix and Google) are all higher in the pre-market.
The Dow and S&P futures are also pointing to a higher open.
In economic news, small business optimism was unchanged in May according to the National Federation of Independent Business' (NFIB), at 104.5.
Producer price index (PPI), a read on inflation at the wholesale level, was relatively flat in May after rising 0.5% in April as food and energy prices declined.
Producer pricing over the past twelve months has been up 2.4% due to rising energy pricing. Excluding food and energy and trade services, core inflation at the wholesale level, fell 0.1% in May, and increased 2.1% over 12 months.
Today begins the two-day meeting of the Federal Reserve, which will conclude with a decision on interest rates.
Comments |
Rising energy prices but from really LOW bases over the past several years. What are the signals that will portend the end of this bull market? Some say the yield curve being inverted by FED actions. Garro on 6/13/2017 9:47:51 AM |
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