-- A month after the stock market was rocked by a worse-than-expected inflation report, investors are fearing a reprise when the latest data arrives on Tuesday.The $1 Trillion Race to Rebuild Ukraine Is Slowly Getting Going
For a sense of what’s on the line, look at trading last week. The S&P 500 rallied 1% Thursday when Federal Reserve Chair Jerome Powell said in his testimony before the Senate that the central bank is “not far” from being ready to cut interest rates. The same day, Powell’s European counterpart Christine Lagarde said the European Central Bank could start reducing rates as soon as June, sending the Stoxx Europe 600 Index up 1.3%.
The reaction demonstrated how the market is growing more sensitive to inflation reports once again. Last year, stocks had relatively muted reactions to consumer-price signals as inflation ebbed. Tuesday’s CPI report is forecast to show a 0.4% rise in prices from January to February, with the main headline inflation figure expected to be unchanged from the prior month. Core CPI, which strips out volatile food and energy components and is seen as a better underlying indicator than the headline measure, is projected to rise 0.3% month over month and climb 3.7% from a year earlier.
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