USA Core CPI (YoY) For February 3.8% Vs 3.7% Est.; 3.9% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Core Consumer Price Index (CPI) for February was reported at 3.8%, slightly above the estimated 3.7% and below the previous month's 3.9%.
March 12, 2024 | 12:31 pm
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The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to the higher-than-expected Core CPI, indicating persistent inflation.
The Core CPI is a key indicator of inflation, excluding food and energy prices. A higher-than-expected reading suggests inflation is more persistent than anticipated, which can lead to volatility in the stock market as investors adjust their expectations for interest rates and economic growth. The SPDR S&P 500 ETF Trust (SPY), being a broad market ETF, is particularly sensitive to such economic indicators.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75