Investors are bullish ahead of CPI data
Federica Montella | Feb 14, 2023 12:21
Wall Street rallied on Monday
Yesterday was a positive day for the US stock market.
All three big indexes closed in profit.
The S&P 500 closed at +1.14%, the Nasdaq ended the trading session at +1.48% and the Dow Jones closed at +1.11%.
The positive movement has been driven by the fact that most traders and investors believe that inflation will continue to slow down and the Fed will ease its restrictive monetary policy.
The investors' sentiment is bullish as indicated in the graph below:
Sentiment indicator - Fear & Greed Index
The market sentiment is at 71 in the “Greed” mode.
Today's CPI data
The Labor Department will release January’s consumer-price index report, today at 1.30 pm GMT.
This data is very important because it measures what consumers pay for goods and services.
Today’s CPI data will show us if and how much inflation is slowing down.
The Consumer price index in the US, for January, is forecasted to be at 6.2%, down from 6.4% the previous month.
It is worth mentioning that even if the inflation will show a decline in January, it is still very high and far away from the 2% Federal Reserve target.
Today the financial market will be volatile. Follow me
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