Economic News

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As of now, the Dow, S&P and Nasdaq futures are gruesome — everything showing down 4% or more. BUT super-early.

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Crude falling but pump prices were over $3 a gallon on my travels today. That may just be the refuel folks gouging though.
 
“… Turmoil in global markets snowballed into one of the worst routs in recent memory after President Trump said he will stay the course with aggressive, economically disruptive tariffs.

What’s going to happen to the markets, I can’t tell you,” Trump said late Sunday. “I don’t want anything to go down. But sometimes you have to take medicine to fix something.”





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Crude falling but pump prices were over $3 a gallon on my travels today. That may just be the refuel folks gouging though.
Gas stations are pretty consistent about pricing in price spikes immediately while pricing in the drops when the relevant refined gas at the lower price is actually delivered.
 
Market future down between 1.25- 2.25%pending CPI data any moment …
 


“… The Consumer Price Index climbed 2.4 percent last month from a year earlier, a far slower pace than February’s 2.8 percent increase and less than economists had expected. Over the course of the month, prices fell 0.1 percent.

A gauge tracking underlying “core” inflation, which strips out volatile food and energy items, slipped to 2.8 percent in March, following a 0.1 percent monthly increase. …”
 
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“… Prices excluding food and energy categories—the so-called core measure economists watch in an effort to better capture inflation’s underlying trend—rose 2.8%, below forecasts for a 3% increase. That was the smallest increase in the core measure since March 2021.

Normally, a slowdown in year-over-year price increases would be welcome news. But this time, it will be hard for investors, policymakers and businesses to read too much into the March data.

… Economists expect tariffs will dent economic growth and raise prices for consumers and businesses in the months ahead, teeing up a new battle for the Federal Reserve. The central bank has spent the past few years struggling to bring inflation down to its 2% target after prices spiked during the Covid-19 pandemic.

“A majority of participants noted the potential for inflationary effects arising from various factors to be more persistent than they projected,” according to minutes of the Fed’s March 18-19 policy meeting, published Wednesday.

The Fed next meets May 6-7. …”
 
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