The S&P 500 Index ($SPX) (SPY) is up +0.89%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.81%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.95%. E-mini S&P futures (ESU26) are up +0.82%, and September E-mini Nasdaq futures (NQU26) are up +0.85%.
Stock indexes are trading higher today, supported by today’s decline of more than -2% in oil prices. The stock and bond markets took today’s CPI report largely in stride. Aug core CPI came in at +0.3% m/m, slightly above market expectations of +0.2%, while nominal CPI was +0.4% m/m, in line with expectations. T-note prices are trading slightly higher, even though the markets raised the odds of a FOMC rate hike next week to 88% from 75% on Thursday.
