Stock Market Nerd Macro – February 17, 2024
Inflation Data:
- Consumer Price Index (CPI) rose 3.9% Y/Y for January. This compares to 3.7% expected and 3.9% last month.
- CPI rose 0.3% M/M for January. This compares to 0.2% expected and 0.2% last month.
- Core CPI rose 0.3% M/M for January. This compares to 0.2% expected and 0.2% last month.
- Producer Price Index (PPI) rose by 0.3% M/M for January. This compares to 0.1% expected and -0.1% last month.
- Core PPI rose by 0.5% M/M for January. This compares to 0.1% expected and -0.1% last month.
- The export and import price indexes rose 0.8% M/M for January. This compares to 0% growth expectations for both.
- Michigan 1-year inflation and 5-year inflation expectations were both in line at 3% and 2.9% respectively.
Consumer & Employment Data:
- Core Retail Sales grew by -0.6% M/M for January. This compares to 0.2% expected and 0.4% last month.
- Retail sales grew by -0.8% M/M for January. This compares to -0.2% expected and 0.4% last month.
- Michigan Consumer Expectations for February came in at 78.4. This compares to 76.5 expected and 77.1 last month.
- Michigan Consumer Sentiment for February came in at 79.6. This compares to 80.0 expected and 79.0 last month.
Output Data:
- The NY Empire State Manufacturing Index for February was -2.4. This compares to -13.7 expected and -43.87 last month.
- The Philly Fed Manufacturing Index for February was 5.2. This compares to -8 expected and -10.6 last month.
