September S&P 500 E-Mini futures (ESU25) are up +0.6%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.7% this morning.
According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) rose by 0.2% in the last month, bringing the year-over-year increase to 2.7%. This was slightly lower than the Dow Jones estimate of 2.8%. When you take out the volatile food and energy sectors, the core CPI increased by 0.3% for the month and 3.1% over the past year. These figures matched analysts' expectations and are generally seen by Federal Reserve officials as a more reliable indicator of long-term inflation trends.
