Jill Biden Did Not Just Say That About Donald Trump
New Video of Scottie Scheffler's Arrest Makes the Louisville Police Look Ridiculous
CNN Admits Something We've All Known About the Trump Hush Money Trial
This Is the 'Ultimate Nightmare Scenario' in Taiwan
Racist Joe Biden and the Black Vote
A New Depth of Cynicism
North Korea Sends Balloons With 'Gifts of Sincerity' Across Border. There Was a...
Dem Lawmaker Proposes 'Solution' if Alito, Thomas Won't Voluntarily Recuse Themselves
Trump Criminal Trial: Even Trump-Hating Analysts Scratch Their Heads
Grand Words From the Gipper
Projections vs. Scenarios, and Why Politicians Should Care
Pandering vs. Patriotism
Historical Ignorance Raises Flags
Pier None
A June Presidential Debate? Lyndon Johnson, Jimmy Carter, and 1968 Hold the...
OPINION

Resiliency Continues

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

The markets remains resilient Tuesday as the DOW, S&P 500 and Nasdaq are all in the green. The latest read from the Labor Department on Consumer Price Index (CPI) shows a 0.2% increase October after a 0.2% decline in September. This uptick is yet another data point to support a potential rate hike in December as we head closer to the Fed’s 2.0% inflation target. The cost of goods and gasoline rose and over the past year, CPI is up 0.2%. This stabilization and increase in prices may indicate that the impact from lower oil prices and a stronger dollar is beginning to subside. The CPI core rate, which excludes energy and food cost, was up 0.2% as well from the prior month, and 1.9% year over year. Apparel prices actually the steepest decline since December, which has been consistent with the continued earnings misses that we have seen from so many retailers.

Advertisement

Some key areas that saw price increases last month include:

  • Gasoline rose 0.4% after a 9.0% decline in September and electricity cost were up as well
  • Food up 0.1%, the smallest gain since May
  • Rental index gained 0.3% after being up 0.4% in September
  • Medical care costs increased 0.7%, the largest gain since April
  • Hospital costs gained 2.0%
  • Airline fares rose 1.5%

We also got the latest read on housing from the National Association of Home Builders/Wells Fargo Market Index (NAHB). U.S. homebuilder confidence dropped 3 points to 62, but is still a bullish indicator (a read above 50). Constraints on land and labor added to the drop. Present and future sales both dropped but traffic did increase, potentially due to the much warmer weather especially in the Northeast. Demand remains on the high end of housing, but the volumes there are much lighter. Lower end home still struggling.

Oil and Gold are continuing to decline today as are most commodities.

Advertisement

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos