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U.S. December CPI in 2hr 50min:

U.S. December CPI in 2hr 50min:

BBG ESTIMATES:
*headline: 2.9% Y/Y
*Headline: 0.3% M/M
*CORE CPI: 3.3% Y/Y
*CORE CPI: 0.3% M/M

*hot CPI number could further cement the idea that there will be no Fed rate cuts in 2025 and may even give rise to the possibility of a hike, whereas cool number might help calm market.

*S&P 500 Index is expected to move 1.1% in either direction, That’s the largest implied move ahead of a CPI print since the regional bank turmoil in March 2023.

Note: While the PPI was below expectations on Tuesday, some components from the PPI that feed into the PCE were firm in December, namely a big increase in domestic airfares. Though Looking back at 10 years of history: When headline and core PPI both fall short of expectations—CPI for the same month has come in hot only 21% of the time.

*Bitcoin-Nasdaq 100 correlation is at the highest since 2022. : infinityhedge

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