etvfutures.com
etvfutures.com December 16, 2017


US Consumer Prices Rose 0.5% in September on Higher Gasoline Costs

14 October 2017, 01:03 | Cesar Cruz

The US dollar has some momentum into the retail sales and CPI numbers. What to watch for

Gold rally pauses ahead of US inflation data

US consumer prices recorded their biggest increase in eight months in September as gasoline prices soared in the wake of hurricane-related refinery disruptions, but underlying inflation remained muted.

Excluding the volatile food and energy components, the core consumer prices gained 0.1 percent in September.

The Dow Jones Industrial Average fell 17.09 points, or 0.07 percent, to 22,855.8, the S&P 500 lost 2.1 points, or 0.08 percent, to 2,553.14 and the Nasdaq Composite dropped 2.41 points, or 0.04 percent, to 6,601.14.

On top of the near-term inflation readings, investors are looking at whom U.S. President Donald Trump will nominate as successor to Fed Chair Janet Yellen, whose term expires next February.

Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday.

European shares rose to their highest level in almost four months, helped by some well-received earnings updates.

The Fed targets a 2% annual inflation rate, as measured by the Commerce Department's personal-consumption expenditures price index.

"It all comes out to the economic data that came out today", said Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners, in Huntersville, NC, referring to moves in bonds, currency and stocks. Adverse weather is seen as impeding lower-income people from getting to work more than it did higher-income employees.

Samsung Electronics CEO resigns, says company is in "unprecedented crisis" ars_ab.settitle(1186199)
Samsung is expecting record profits for third quarter amid the high-flying memory chip prices. Kwon will also recommend a successor for his position, a Samsung spokesperson said.


Core prices, which exclude food and energy and are more closely watched by economists and the Federal Reserve, rose by a disappointing 0.1% on the month, short of August's 0.2% increase that was predicted to repeat for a second month.

The dollar, which was yoyoing against the pound all morning, fell again to 1.3320 on the news to extend losses on the day to 0.44%, while spiking down on the euro 0.3% to 1.1866.

European shares rose to their highest in almost four months, helped by corporate earnings updates.

The report also said the annual rate of producer price growth accelerated to 2.6 percent in September from 2.4 percent in August.

White House Chief of Staff John Kelly said on Thursday that Trump was "some time away" from making a decision, while another official said Trump had met with Stanford University economist John Taylor - of economics text book Taylor-rule fame - to discuss the job. "Price gains will continue to be only modest, but enough for the Fed to increase its policy rate at its December meeting".

USA core personal consumption expenditures (PCE) price index, a separate inflation gauge compiled by Commerce Department, increased 1.4 percent in August from a year ago. Shelter prices advanced 0.3% over the month.

Sarah Chaney contributed to this article.



Other News

Trending Now

Kurdistan Sends Peshmerga Troops to Kirkuk Amid 'Threats' by Iraqi Army
Turkish Prime Minister Binali Yildirim is expected to visit Baghdad on Sunday to meet with Iraqi Prime Minister Haidar Abadi. Washington, long friendly with the Kurds, had also called on them before the referendum to cancel it.

NCAA Lets UNC Off The Hook
More than 3,100 students were enrolled in the "paper classes" over an 18-year period. None of that, was judged by the NCAA as an impermissible benefit.

Crystal Palace's Zaha in contention for Chelsea game
Fourth placed Chelsea are six points behind Manchester City after the champions lost 1-0 to the Premier League leaders in their last match before the worldwide break.

Aston Martin Announces the New DB11 Volante
Called the DB11 Volante, the new soft-top Aston is powered by a 4.0-litre Mercedes-AMG-sourced V8 engine that develops 503bhp. Like the coupe, the V8 unit sends 503 horsepower and 513 lb-ft of torque to the rear wheels through an eight-speed automatic.

Guardiola Beats Mourinho, Wenger To September EPL Manager Of The Month
The news was less encouraging for club captain Vincent Kompany , whose latest calf injury setback remains on ongoing process. Hopefully he's in the last part (of his recovery). "Unfortunately it was long open, but now it is closed.

Wenger admits Ozil, Sanchez could leave in January
He didn't play in the first game, and we lost him in the second game against Azerbaijan at home. I thought 'what have I done coming here - this is going to be embarrassing'.

Huawei Honor 6C Pro Smartphone Announced
The smartphone was announced in Russian Federation although pricing and availability details are yet to be disclosed. The battery feature however seems to be muted down to 3000 mAh in Honor 6C Pro from 3020 mAh found in 6C.

North Korea: Austrian Copy Shop Published Former Dictator's Book
In the last three months, North Korea conducted its most powerful nuclear test ever and launched two missiles over northern Japan. He said there was already "great concern" about Americans living in Guam.

Mobile puts a cap on high-speed data roaming in Canada, Mexico
In case you need high-speed data on your T-Mobile number, you would need to go for another $25 on the top of the base plan. This move isn't surprising when you consider T-Mobile is pushing unlimited plans more aggressively than it was in 2015.

Trump Claims Victory in War on Christmas: 'We're Saying Merry Christmas Again'
Friday's event marks the first time that a sitting president has spoken at the Family Research Council's event. No more Merry Christmas on Starbucks", Trump told a Springfield, Illinois rally.