CPI DATA INFLATION REPORT

[00:00:00] Speaker 1: hey what's going on guys it's ricky with learn plan profit hope that you're all having a great start to your morning today's july 14th 5 27 in the morning and we are live so markets are surprisingly in the green um showing a v-shape recovery during the extended hours or really the overnight hours uh beginning to uptick and this is just moments before this cpi data report so let's see what we got here all right good morning good morning if you guys can hear me and see me okay just let me know in that little live chat there we go okay we got a few minutes left about two minutes left right before that cpi report comes out and look at that nasdaq market is pushing up for no reason um looks like ibm just reported earnings down 22 percent on the day and i'm very happy to see it actually no it's not ibm it's intc that i don't like my apologies so ibm giving back all it gained retesting previous lows of 220 based off of what about two months ago same previous support we ran up to highs of 350 now it's trading at 220 nasdaq market's still holding up there all right what are you guys thinking bullish or bearish it looks like a lot of these semiconductor stocks gapped up overnight we got micron up three percent uh it closed at 937 but i'm currently trading at about 30 from that 9 67 but the really surprising part is we hit lows of 9 10 multiple times during the overnight hour session uh found support right and that was the same support that we were testing yesterday so we'll see we'll see if it actually holds at these elevated levels based off of what gets released on that cpi report so here we go we got 10 seconds left so once the report comes out we will break it down and then we'll go from there cpi is rigged all that we hope not right there it goes a big push look at that just what the markets wanted right good morning good morning good morning wow huge push nasdaq market up 1.4 let's see exactly what was released so again we can just go to our little economic calendar today is the 14th looks like cpi report came out way lower than what was expected according to this report core cpi 2.6 previous 2.9 so expectation was 2.8 it did come in lower than what was expected and we went from 4.2 percent to 3.5 percent so a much larger drop in our cpi than what was expected so let me go ahead and pull it up here very quickly it's funny because when the inflation reports would come in much higher than what was expected they would barely drop the market but again that's besides the point so as of right now markets are choosing to celebrate we saw a big drop in the month of june obviously this has a lot to do with the contribution from you know energy and the oil prices right we could see here you can zoom on in just so make to make sure that we can see this is all items so this is overall cpi from 4.2 to now three point what was it 3.5 and then this is core core went from the two point what was it 2.9 to now 2.5 so for the month of june we see a bunch of big drops some of the biggest drops that we see are obviously in the energy sector and we see energy commodities down 9.5 percent gasoline down 9.7 percent fuel oil and 9.2 percent so a lot of big big drops here did we see any big jumps um not really big jumps by any means it looks like the biggest jump was about half of a point so half of a point and that was by um let me double do that utility gas pipe services that's actually quite interesting okay looks like nasdaq market beginning to show signs of a potential peak and resistance here so we'll see if it begins to correct or pull back a little bit but the cpi report is officially out cpi both overall and core cpi came in much lower than what was expected so again 2.6 percent is core cpi 3.5 percent is overall cpi markets are celebrating look at that sandisk is up seven and a half percent we got tesla up 1.2 you even have spacex in the green up about one percent so yeah i mean i told you that the that it was going to be bullish the cpi is rigged yeah i mean i i wouldn't want to believe that it's rigged in that sense right i feel like it does make sense in the month of june we did see oil prices as a whole drop so you could assume that again we're likely to see it drop for consumers as well sometimes it's not that fast and maybe that was my only concern but there's no question that during the ceasefire i mean if you just look up oil prices you saw a significant drop right as we've recently seen oil prices begin to recover um yeah like oil prices are still pushing up higher overnight right but for the month of june there were weeks that we would go with significant downturns so um again i think it does make sense that as energy and oil or one of the biggest contributors to this i'm not too too surprised and again one of the biggest outliers right now is ibm currently down over 21 percent due to missing earnings this is not a good sign because i'm pretty sure trump was promoting ibm um just a few weeks ago so we'll see how that develops but uh try time to put in a put option be careful right markets are rational they're always willing to recover you cannot be surprised by that right obviously there's still tensions in the middle east but like we've talked about it before and we'll talk about it in just a little bit um within our live session but overbought levels right around 7 30 7 40 for qqq and oversold levels tend to be right around 7 10 to 700 so just be cautious overbought oversold uh and when in doubt never be afraid to cash out so thank you guys again for tuning on into this little cpi report i'm glad that we're able to cover it and watch it live i will be going live in just a few minutes at 9 30 a.m eastern time so at 6 30 a.m mountain standard time with the investing.com team so if you want to tune on into that just subscribe to the channel i'm sure you'll receive a notification once that um we end up going live okay so i appreciate you guys this time hope that we're in a thumbs up please consider subscribing and if you ever have any questions feel free to reach out to me via instagram and that's going to be linked down below appreciate you guys time like always let's make sure that we end the year on a green note take care team