CPI
Going Forward?
This report does nothing to change the narrative in place. The FOMC is still likely to cut short-term interest rates on September 18th. That will come after the Kansas City Fed's dog and pony show at Jackson Hole next week and the release of the August employment surveys by the BLS in early September.
This is going to be one time among many where the market will root against US economic performance leading into mid-December. I don't like that one bit. Listen, we told readers ahead of time that consumer level inflation would slow into September and then likely reaccelerate from October on into 2025. That is still how the story is shaping up.
We also expect the economy to drag a bit. Recession? We may be in one now. That said, even if we are not, the economy is not popping. We'll learn more about that tomorrow morning with July Retail Sales and Walmart (WMT) $Walmart (WMT.US)$ reporting almost simultaneously. I imagine that there will be some warning signs apparent.
I am long WMT.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
NYSE floor trader for over 30 years. Day trader, long-term investor, and anything in between.
863Followers
414Following
1994Visitors
Follow
Tonyco : I expect WMT to have a rev beat from layoffs and cost cutting measures. They had a big cut back in May. Might even see a EPS beat.
They are bleeding heavily, though - their biz is sunsetting rather quickly, which is why they trying to branch out with acquisitions like vaio