Morning Express | 2/27/2023
Posted: Feb. 27, 2023, 9:23 a.m.
|
|
- On Friday, the Fed’s preferred inflation indicator, the Core PCE Index, for January was released Friday morning and came in hotter than expected at 4.7% y/y versus 4.3%, while December was revised from 4.4% to 4.6% and +0.6% m/m versus +0.4%, on top of December being revised higher by one-tenth to +0.4%.
- The Personal Spending component surged by 1.8% m/m, versus 1.3% expected, the highest since February 2022, whereas Personal Income missed at +0.6% versus +1.0% expected.
- On Friday, Michigan Consumer data was firm, with Expectations and Sentiment topping estimates, while 1-year Inflation Expectations were 4.1% versus 4.2%, but up from 3.9%, and 5-year Expectations remained steady at 2.9%.
- Today, Core Durable Goods Orders (ex-transportation) for January surged by +0.7% versus +0.1%, though underpinned by December’s revision from -0.1% to -0.4%. Headline Durable fell more sharply at -4.5% versus -4.0%.
- Pending Home Sales are due at 9:00 am CT.
- Fed Governor Jefferson due to speak at 9:30 am CT, keep an eye out for additional Fed speak.
- The CME’s FedWatch Tool has the odds for the Fed to hike by 50bps in March at 24.7%, down from 27.% on Friday.
- Target reports tomorrow morning. Also, Case Shiller and Consumer Confidence are due.
E-mini S&P (March) / E-mini NQ (March)
S&P, last week’s close: Settled at 3975.75, down 43.00 on Friday and 111.75 on the week
NQ, last week’s close: Settled at 11,997.00, down 210.50 on Friday and 393.00 on the week
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
NQ (March)
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Crude Oil (April)
Last week’s close: Settled at 76.32, up 0.93 on Friday and down 0.23 on the week
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Gold (April) / Silver (May)
Gold, last week’s close: Settled at 1817.1, down 9.7 on Friday and 33.1 on the week
Silver, last week’s close: Settled at 20.936, down 0.502 on Friday and 0.925 on the week
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Silver (May)
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures
Don't have an account with Blue Line Futures?
Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500
Like this post? Share it below:
Back to Insights
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial