The CML Close - Stocks down, cancelled home deals spiking, eyes on CPI and Core CPI - 07-11-2022
Stocks finished down, with the tech heavy NASDAQ showing the largest drop and all eyes on the CPI and Core CPI inflation reports due on Wednesday July 13 2022.
Inflation may have peaked and the housing market could be on the brink of a substantial slowdown.
• Inflation may have peaked.
• Home buyers and builders are cancelling deals at the highest rate since the COVID onset.
• Europe is on high alert as Russia temporarily halts gas flows via major pipeline.
Headlines of the Day
S&P 500 loses 1%, Nasdaq breaks 5-day win streak ahead of earnings season
U.S. equities fell Monday as Wall Street braced for big company earnings reports slated for later in the week which could signal how inflation is impacting businesses.
Homebuyers are canceling deals at the highest rate since the start of the pandemic
Homebuilders are also seeing higher cancelation rates.
Fed Braces as Another Big US Inflation Number Looms
Investors await follow-up to last month’s market-shaking data. Large rate hikes expected in Canada, New Zealand, South Korea.
Second-quarter earnings season is here.
2Q Earnings Season Begins. We’ll Learn a Lot About Where Stocks and the Economy Are Going.
Europe on high alert as Russia temporarily halts gas flows via major pipeline
Operator Nord Stream AG confirmed the maintenance work, which is scheduled to run from Monday through to July 21, got underway as planned on Monday morning.
Economic Data Due Tomorrow on 7-12-2022
Consumer Inflation Expectations JUN
IBD/TIPP Economic Optimism JUL
NFIB Business Optimism Index JUN
The information contained on this site is provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Capital Market Laboratories (“The Company”) does not engage in rendering any legal or professional services by placing these general informational materials on this website.
The Company specifically disclaims any liability, whether based in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with access to or use of the site, even if we have been advised of the possibility of such damages, including liability in connection with mistakes or omissions in, or delays in transmission of, information to or from the user, interruptions in telecommunications connections to the site or viruses.
The Company makes no representations or warranties about the accuracy or completeness of the information contained on this website. Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that The Company endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorse any information contained on those sites, unless expressly stated."