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Market Snapshot 3-12-24- Big News For The Day

Happy Tuesday Afternoon from your Hometown Lender;

The big news for the day and for the week was the February CPI report.

It came in slightly above expectations at +.4 percent on headline and core (ex-food & energy). Headline and core were seen increasing about 0.3 percent month-over-month.

What does that mean?

Well most of the increase was attributed to higher gas prices which look to be moderating. Additionally the shelter costs seem to be coming down which will come through in future months. On the news, bonds have leaked a little bit but are still in very good shape.

Before CPI…

We had the NFIB Small Business Optimism Index for February: it decreased in February, marking the 26th consecutive month below the 50-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem and replacing labor quality at the top. The Fed will be on hold next week but they must be encouraged by the data.

Please remain safe and healthy, make today great!