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Market Review:
CPI Tuesday and PPI Wednesday
The inflation reports are out. Only the CPI reports today, but the PPI reports will follow tomorrow. Based off expectations we should see CPI dropping in the overall rate but holding steady in the Core rate. The major difference between the Core and the Standard CPI numbers has in the past been the cost of Crude. Given the dramatic fluctuation in Crude prices last month, that may very well be the case again.
What CPI means to the market will depend on who you ask. The optimist will point to a decline in the CPI Standard Rate and say the inflation situation is improving. The pessimist will look to the CPI Core rate and argue that inflation is still over 4%. The realist will acknowledge both, and look to the next major event, PPI.
CSCO is expected to report on Wednesday. CSCO opened this year at 47.86. The stock began the 2nd half of the year at 51.36. It saw a slight improvement in the 3rd quarter, and opened the 4th quarter at 53.84. October was a slow month for CSCO. The November open was 52.04, and CSCO closed on Monday at 52.23.
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