Core CPI (YoY) (Nov) +4% vs +4% Est.
Portfolio Pulse from Benzinga Newsdesk
The Core Consumer Price Index (CPI) for November increased by 4% year-over-year, aligning with the market estimates.
December 12, 2023 | 1:30 pm
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NEUTRAL IMPACT
The Core CPI data meeting expectations suggests a stable inflation environment, which may lead to a neutral short-term impact on SPY as market volatility could be subdued.
Core CPI is a key indicator of inflation, which the Federal Reserve closely monitors when setting monetary policy. Since the reported figure met expectations, it suggests that the Fed's current policy track might continue without aggressive changes, leading to a neutral market reaction. This can affect ETFs like SPY, which track a broad market index and are sensitive to changes in economic indicators.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75