The major stock indices are being fueled this morning by strong earnings from big names like Goldman Sachs, Johnson & Johnson, and Netflix. Oil prices are also climbing, lending further support to stocks. The bond market seems to have found a bottom and has seen pricing stabilize as a result, and causing interest rates to halt their march to the north. Thumbs up all around.
The Consumer Price Index (CPI) increased 0.3% in September, inline with estimates and above the 0.2% from last month. The Core CPI, which strips out volatile food and energy sectors, rose 0.1%, below the 0.2% expected. Year-over-year headline CPI was up 1.5%, above the previous 1.1% last month, while Core edged lower to 2.2% from 2.3%. This mixed bag of jumbled numbers is having no effect on the markets, but it’s good to see solid price appreciation at the consumer level.
