US equities open a little choppy, as Mr Market will be inclined to enter a holding pattern ahead of the 2pm press release from Print Central. VIX remains subdued in the 14s. USD is -0.5% at 102.38. US 10yr 3.78%.
sp’60min
VIX’60min
Summary
PPI:
Headline y/y: 1.1% vs 2.3% prior
Ex food/energy y/y: 2.8% vs 3.2% prior
Ex food/energy/trade serv’ y/y: 2.8% vs 3.4% prior
The trend is good, although ironically you could argue its a sign of deflation, and the Fed won’t like that!
As for equities, we should expect four hours of chop.
I’m inclined to see an initial spike on the 2pm press release.
–
notable stock: AMD
I’m highly inclined to see this turn red before the close.
–
notable stock: TSLA
Tesla has already turned red. Interesting!
—
notable Dow component: UNH
United Health warns of higher medical costs, due to the older gen’ deciding to get procedures done after a few years of waiting.
—
notable fin: AFRM
BTIG ‘sell’ $10.
I see no l/t future for Affirm.