...lower than expected PPI overnight helped sustained equity buying interest pushing S&P500 up to 6.045, now just a 100 points away from its all time high.
Recent benign CPI and PPI data don't indicate that foreign producers are eating our tariffs. U.S. companies are still selling inventory that they stocked up on pre-tariffs. With the dollar hitting a fresh three-year low today, sharply higher CPI and PPI numbers are coming soon. https://x.com/PeterSchiff/status/1933143813771669977
...but in current geopolitical turbulence, one 'solved' another one crops up. Trump says Israeli strike on Iran could happen but wants to avoid conflict
Reuters
US President Donald Trump said on Thursday (Friday AEST) an Israeli strike on Iran “could very well happen,” and a senior Israeli official told the Wall Street Journal it could occur as soon as Sunday unless Iran agrees to halt production of material for an atomic bomb.
The report put in stark relief that a strike by Israel on its longtime foe Iran could come within days, as Israel tries to block Tehran from developing a nuclear weapon. This has raised fears that such a move could spark a regional war and retaliatory strikes from Iran.
Trump reiterated his hopes for a peaceful end to the tensions.
J.P. MORGAN ON POTENTIAL IRAN ATTACK: “An attack on Iran could spike oil prices to $120, driving US CPI inflation to 5%.” President Trump’s top priority has been lower energy prices for lower inflation. An attack driving oil prices to $120 would put rate HIKES back on the table. https://x.com/KobeissiLetter/status/1933122501657178608
