Description: Tomorrow key inflation data and major earnings reports will be released, which are both expected to move markets. But as for today, the market stayed neutral as it waits for tomorrow’s signal.
Technical Analysis: Indices were slightly rising near the market close, but no more than 0.50%. Tomorrow’s inflation data could either cause a major pullback or a rally – only time will tell.
Economy: Analysts are expecting inflation to be at 3.2% during tomorrow’s reading. The Fed’s ultimate goal is to get inflation down to 2%, which they believe will take two more years of work.
Commodities: Following a rise in U.S. oil stockpiles, U.S. West Texas Intermediate crude futures dropped 1.2%, 87 cents, to $71.37 per barrel.
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