At-a-Glance
Today’s Top Highlights
Today was the release of the anticipated CPI report, which came in right in line with expectations, and the market finished the day lower again. Heading into the close, the Nasdaq was able to climb higher from the lows of the day, but still finished the session down about 1.6%. The precious metals also saw prices fall again today with Gold falling over 4% and Silver down about 1.7%. Gold is now sitting right near the low price from March right near $4,115, and traders are watching this level to see if buyers will step in or if the selling pressure will continue for another downside breakout.
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“What exactly is the CPI report and why does it matter”
The CPI (Consumer Price Index) report is the government's monthly scorecard measuring inflation by tracking changes in the cost of everyday goods and services. For a retail trader, it can be a high-impact catalyst because it can help dictate the Federal Reserve’s next interest rate move, which can inject massive volatility into the futures markets.
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