Higher on lower CPI

US equity indexes closed on a positive note, SPX +28pts (0.4%) at 7543. Nasdaq comp' +0.9%. Dow +0.02%. The Transports settled +0.1%. R2K +0.3% 

SPX – daily

VIX – daily

Summary

US equities opened higher on the latest inflation data...

Headline y/y: 3.5% vs 4.2% prior 
Core y/y: 2.6% vs 2.9% prior

The opening gains were a little shaky, with Fed Chair Warsh appearing before the US House...

Equities churned across the rest of the day, with the SPX settling moderately higher at 7543.

Volatility was ground lower, the VIX settling -3.8% to 16.50. 
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Starting weak

US equity indexes mostly closed on a weak note, SPX -60pts (0.8%) at 7515. Nasdaq comp' -1.5%. Dow -0.3%. The Transports settled +0.15%. R2K -0.8%

SPX – daily

VIX – daily

Summary

US equities opened on a weak note, and saw choppy cooling across the day, the SPX settling broadly lower at 7515.

Volatility picked up, the VIX printing 17.41, and settling +14.2% at 17.16. 
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To the east

To the west

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Weekend update - US equity indexes

It was a mixed week for US equity indexes, with net weekly changes ranging from +1.7% (Nasdaq comp'), +1.2% (SPX), +0.7% (Trans), -0.1% (NYSE comp'), to -0.5% (Dow, R2K).

Lets take our regular look at six of the main US indexes (monthly candle charts). 

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

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Summary

Three US equity indexes were net higher for the week, with three new lower.

The Nasdaq was sig' higher, whilst the Dow & R2K were moderately lower.

The Dow and NYSE comp' broke new historic highs.

More broadly, all six US equity indexes are trading above their respective monthly 10MA, and have positive monthly momentum. 

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Looking ahead

A very busy week is ahead, with the start of Q2 earnings season, inflation data, and two doses of Warsh speaking to the US Govt'. 

Earnings:

M - $AERO $FBK

T - $JPM $BAC $C $GS $WFC $FAST $ERIC $ANGO $DNBBY $AEHR $EQBK $PXED $KMTS $LOOP

W - $MS $PNC $BLK $ASML $CAG $JNJ $ELV $MTB $CTAS $UAL $JBHT $HOMB $KARO $GSBC 

T - $UNH $TSM $USB $GE $ABT $STT $CFG $HOVR $IIIN $PLD $NFLX $AA $ISRG $CNS $FNB $SFNC $INDB $WSE 

F - $RF $TFC $FITB $ALV $SPFI $TRV $SDVKY $VLVLY $ASAZY $SKFRY

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Econ-data/events

M - US T-budget (2pm)

T - CPI, Warsh - House Fin' committee

W - PPI, Empire state manu', Warsh - Senate Banking committee, Fed Beige book (2pm)

T - Retail sales, Weekly jobs, Phil' Fed, pending home sales 

F - Housing starts, import prices, indust' prod'

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Have a good weekend
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*the next post on this page will likely appear 4.20pm EST on Monday.