CPI (YoY) (Aug) 3.7% vs 3.6% Est.
Portfolio Pulse from Bill Haddad
The Consumer Price Index (CPI) for August has come in at 3.7%, slightly above the estimated 3.6%.
September 13, 2023 | 12:30 pm
News sentiment analysis
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NEGATIVE IMPACT
The higher-than-expected CPI may impact SPY as it indicates increased inflation, which could lead to potential interest rate hikes.
The CPI is a key measure of inflation. A higher-than-expected CPI indicates increased inflation, which could lead the Federal Reserve to raise interest rates. Higher interest rates can negatively impact stocks as they increase borrowing costs for companies, potentially leading to lower profits. Therefore, the news is likely to have a negative impact on SPY, an ETF that tracks the S&P 500.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75