All major indices ended Tuesday in the red as financial markets prepared for inflation data on Wednesday. The Nasdaq was down 107 points, or 0.92%, to finish the day at 11,264. The S&P and the Dow were down 0.92% and 0.62%, respectively.
– Bonds prices were also down for the day as the yield on the 10-yr note was up 6 basis points to 2.96% at the close and the Mortgage-Backed Securities were down 6 basis points to 100.20 to close out the day.
– Oil prices continued their descent with a barrel of oil unchanged at $95.84 a barrel of Brent fell under $100 for the first time since March. Gas prices are now down for the 28th day in a row, bringing the national average to $4.66 a gallon.
All eyes are on tomorrow’s CPI print. Jonathan Ferro lists the many predictions for tomorrow’s top-line number. The official number from economists is for a slight increase to 8.8%. Core CPI, however, is projected to fall to 5.7%. After today’s fake CPI print tomorrow is going to be fun either way…