October Inflation Data Shows Progress
The Consumer Price Index (CPI) was unchanged in October, below the consensus expected +0.1%. The CPI is up 3.2% from a year ago - a huge improvement versus the 7.7% reading in the year ending October 2022. The actions taken by the Federal Reserve to fight inflation continue to gain traction.
'Tis the Season?
Seasonal factors played a role in the S&P 500’s recent correction with the index posting negative returns in three consecutive months for the first time since January-March 2020. However, these same factors have the potential to serve as a tailwind for equity prices through year-end. Lower long-end yields, a stable growth environment, and positive seasonality could provide the S&P 500 with enough fuel to continue to rally through year-end.
Links to What Else We're Reading
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