Hey there, readers!
Today, we have some exciting updates in the world of finance and markets. Let's dive right in!
Consumer Price Index Report
The August consumer-price index report is set to be released today at 8:30 a.m. ET. This report is one of the last major data points before the Federal Reserve's meeting next week. Expect mixed signals as surging gas prices may boost the headline rate, but underlying inflation is expected to remain stable.
For live coverage and the latest news affecting markets, follow our live coverage throughout the day.
Stocks to Watch
These stocks have been making waves in the market, so keep an eye on them.
The Return of the Basis Trade
The basis trade, a popular way for hedge funds to profit from bond trading, is making a comeback. This trade exploits the price difference between Treasurys and Treasury futures. After a subdued period, the basis trade has rebounded, attracting fresh scrutiny from Wall Street. To learn more about this intriguing trade, keep reading.
Other News and Must-Reads
- 🔎 U.S. budget deficits are here to stay as both Republicans and Democrats remain reluctant to raise taxes on the majority of Americans or curb spending.
- 🔎 U.S. crude prices are nearing $90 a barrel for the first time in almost a year, which could impact gasoline bills for American drivers.
- 🔎 Unions still have clout and can pack a punch, as shown by a possible UAW strike that could lead to higher inflation or narrower profit margins.
That's all for today's market update. Stay tuned for more exciting news and developments!
Best regards,
Your Financial Guru
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