Whoo-hoo! Futures Jump After CPI Data — "Goldilocks" Or "Gilded Age" -- March 12, 2024

Locator: 46731B.

Updates

Late morning trading, after monthly CPI released:

Original Post 

Jobs: link here.

CPI: 1913 - 1924.

CNBC: link here.

Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.

The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday.

The monthly gain was in line with expectations, but the annual rate was slightly ahead of the 3.1% forecast from the Dow Jones consensus.

Excluding volatile food and energy prices, core CPI increased 0.4% on the month and was up 3.8% on the year. Both were one-tenth of a percentage point higher than forecast.

Fed: CNBC opines that CPI news keeps three rate cuts in 2024, first one in June, "on the table."  

• Tea leaves: no rate cut in June. With Apple paying 4.5% this is not all bad. Keeps us in "Goldilocks" economy.

ORCL: shares surge; lifted by cloud demand. 

NVDA: up $21. 

ON-Holding: falls 16% after missing 4Q24 estimates; high-end apparel.

Southwest Airlines: plunging.

Personal investing, no recommendations, see disclaimer. Per rules:

• AAPL
• CHRD
• CRH
• MRVL
• PXD
• MSFT
• QCOM

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Back to the Bakken

WTI: $77.74.

Wednesday, March 13, 2024: 113 for the month; 172 for the quarter, 172 for the year
39401, conf, Hess, TI-Ives-157-94-0601H-3,
39250, conf, Whiting, S-Bar Brandon 5393 34-1 5T,
38102, conf, BR, Stafford 01-34TFH,

Tuesday, March 12, 2024: 110 for the month; 169 for the quarter, 169 for the year
39584, conf, Whiting, DE Bud 44-32-4TFH
39583, conf, Whiting, DE Bud 44-32-4H,
39551, conf, Whiting, S-Bar Devon 5393 34-1 7T,
39550, conf, Whiting, S-Bar Joanna 5393 34-1 6B,

RBN Energy: new gas pipelines from the Permian to northwest Mexico are needed to meet demand.

Mexico’s state-owned Comisión Federal de Electricidad (CFE) and private-sector developers of LNG export terminals have been aggressively advancing new natural gas-consuming projects in Northwest Mexico. But while plans for a number of new pipelines to help bring in gas from the Permian are on the drawing board, it remains to be seen if they can be built as quickly as they would need to be to avert a potentially ugly competition for gas supplies. In today’s RBN blog, we discuss the gas-demand and gas-delivery projects now under development in Northwest Mexico.