CNBC Daily Open: Don’t worry about August’s hotter-than-expected CPI
Publishing timestamp: 2023-09-14 02:29:56
Summary
The U.S. consumer price index for August rose 3.7% from a year ago, with energy prices being the main contributor. Core inflation, excluding food and energy prices, was up 4.3% on the year. While the headline numbers may seem concerning, closer examination reveals that rising oil and gasoline prices are temporary factors that are likely to decrease in the future. The housing market has also shown signs of slowing down. Overall, the markets reacted calmly to the CPI report, with the Dow Jones Industrial Average being the only major index to fall. Traders are still betting that the Federal Reserve won't raise rates next week.
Sentiment: MIXED
Tickers: C, AMZN, CAT, TSLA, .IXIC, AAPL, .DJI, NVDA, .SPX, MMM,
Keywords: prices, nvidia corp, banks, markets, economic events, tesla inc, citigroup inc, apple inc, business news, s&p 500 index, elon musk, dow jones industrial average, inflation, world markets, amazon.com inc, consumer prices, nasdaq composite, 3m co, oil and gas, caterpillar inc, technology, china, taiwan, united states,
Source: https://www.cnbc.com/2023/09/14/stock-markets-dont-worry-about-augusts-hotter-than-expected-cpi.html