On the SPOT™ blog (05/11/2023) [J..]
Economic data this morning showed that PPI (for April) rose less than expected so fight to tame inflation seems to be effective so far. It is still long way from target and there were some Fed official's comments that show that there are still some members who are in favor of continuing rate hikes to push inflation in the correct direction. Weekly jobless claims seem to have gone up. Regional bank saga continues as their stock declined and there was a comment from JPM CEO that we need to "finish" the banking crisis by making any necessary changes. Disney's stock declined after its quarterly results. Essentially, mixed signals are making it difficult for investors to conclude news to be good or bad. Dow and S&P are in the red right now an Nasdaq is close to the flat line (morning PST).
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