DOW JONES INDUSTRIAL AVERAGE CHURNS ON TUESDAY AFTER MIXED BAG US CPI INFLATION
- Dow Jones tests 39,060.00 before settling back into the opening range.
- US CPI inflation continues to ease overall, but MoM headline CPI ticked higher.
- Equity indexes are broadly on the rise, but DJIA remains capped.
The Down Jones Industrial Average (DJIA) is moderately up on Tuesday, with US equities finding gains after a somewhat mixed US Consumer Price Index (CPI) inflation print flashed an uptick in near-term inflation, but investor confidence remains hopeful as Core CPI inflation continues to ease.
Markets continue to pin hopes on a rate cut from the Federal Reserve (Fed) happening sooner rather than later. According to the CME’s FedWatch Tool, rate markets are continuing to price in a 70% chance of at least a 25 basis point rate trim from the Fed at its June policy meeting. Going further into the details, about 63% of rate futures traders expect a 25 bps cut, while 7% are hoping for a 50 bps rate cut in June.
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