PCE Deflator, More Earnings: Daily Contrarian, July 29
Good morning contrarians! Stocks look to resume their rally after positive earnings from $AAPL and $AMZN…
Today’s main economic data release is the PCE deflator, out at 0830. Economists expect a 6.8% increase to the headline figure, which is ahead of last month’s 6.3%. The core figure, which excludes food and energy, is expected to increase 4.7%. That would be identical to last month’s number.
Watch for: A small increase is baked in to the headline figure. So don’t believe any headlines that say it rose “unexpectedly.” But the core figure is more important anyway.
Am monitoring $SWK after it dropped 16% yesterday. More on this in the podcast, available here:
No comments yetBe the first to add your insight!