On one hand, last night’s Durable Goods reports were stronger than expected, possibly being the tendrils of a manufacturing rebound.
On another had, Jan and Feb readings of CPI and PPI inflation were unexpectedly high. PCE inflation reports are out on a no trading Fri this week. Much rumination over the Easter break if these reports indicate hot inflation (likely imo), or reduced inflation (unlikely imo).
On another hand, the 20 Cities Home Price Index rose an unexpectedly hot 6.6%, raising concerns yet again about rising inflation.
On another hand, Consumer Confidence dropped slightly from the previous month and was considerably below consensus expectations … high interest rates and persistent high prices in housing, energy and food weighing on consumers?
On another had, 4 of 19 Fed Heads last meeting saw 2, 1 or no interest rate cuts this year.
I am fresh out of hands lol … and can’t see much justification for such strong US futures leading up to market open today.
