Inflation Lower Than Expected

(8/11/22) Inflation came in less than expected, spurring stocks higher, as expected. The 0% print was almost entirely due to falling energy prices, but without that variable, CPI actually rose a bit, with Core CPI still in positive territory. (This doesn't mean that inflation declined; it's still advancing at 8.5%. The hope now is that the Fed won't have to hike rates as much. There are technical backdrops that are encouraging to the bullish perspective on stocks. The bearish case remains the Fed, as if continues to raise rates and tighten monetary policy. Going forward, earnings have to be better-than-expected in an environment where earnings estimates are falling, the economy is weakening, and wage pressures impact corporation. Fundamentally, this is not good for equity prices.

Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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