Thursday, 10 August 2023

Failed inflation gains

US equity indexes mostly closed a little higher, SPX +1pt (0.03%) at 4468. Nasdaq comp' +0.1%. Dow +0.1%. The Transports settled +0.4%. R2K -0.4%

SPX - daily

VIX - daily


Summary

The day began with the latest inflation data...


Headline y/y: 3.2% vs 3.0% prior
Core y/y: 4.7% vs 4.8% prior

Minor changes.

Equities opened broadly higher, with the SPX pushing to 4527. From there, an equally significant down wave... if choppy at times, printing a new cycle low of 4457, and settling fractionally higher at 4468.

Volatility was very mixed, the VIX printing 14.60, climbing to 16.86, if cooling back to settle -0.7% to 15.85.
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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