NDW Morning Pulse
Below are highlights from the NDW Morning Update Video for the morning of 10/14. Access the video on the NDW Morning Update Video page.
- Equity futures are lower this morning following the release of September CPI data. Month-over-month headline inflation came in at 0.6%, in line with expectations. Meanwhile, core CPI came in 0.3%, 10 bps above the consensus estimate.
- Crude oil is up around 1.5% trading around $95.50/bbl.
- Bank of America reported earnings this morning and is down about 5% premarket.
- Tuesday was relatively quiet for the major US indices. The S&P was down 2 bps while the Nasdaq composite fell 15 bps. Emerging markets were a weak spot as the iShares MSCI Emerging Markets ETF (EEM) was down 62 bps.
- Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), and JP Morgan Chase (JPM) reported earnings yesterday. All four finished the day in the red. C was the worst performer, down more than 5.5%. While WFC was down more than 3%.
- It was a mixed bag for participation indicators yesterday. The NYSE High Low Index (^NYSEHILO) reversed up into Xs yesterday’s trading. The HILO is calculated by dividing the number of stocks hitting new 52-week highs compared versus those hitting new 52-week highs and lows. The reversal up is a possible sign of improving participation. However, the Percent Positive Trend for OTC (^PTOTC) which measures the percent of Nasdaq stocks trading in a positive trend reversed down.
- Yesterday’s research focused on the role of inflation in the recent rise in interest rates and the change in real yields.
