It's CPI Week: My Quick Market Thoughts
My market outlook heading into the new week.
At some point the idea of repeating the same thing over and over again might seem like laziness, claptrap, or an inability to change one’s stance as facts change. I have been tormented by this idea as I pen article after article justifying why I am still bearish on the overall market.
This week we’ll get the all-important CPI number - a piece of macroeconomic data that everybody is looking toward for direction on where markets are going to head into the end of the year - and maybe start 2023. The thought process is generally that if the number is lower than expected, stocks will move higher - and if the number is higher than expected, stocks will move lower on the Fed having an impetus to stay hawkish. My take is a little different from this “mainstream” one.