Major averages diverged yesterday with the Dow selling off -0.62% and the S&P 500 -0.13% on lighter NYSE volume. Meanwhile, the NASDAQ Composite, led by large-cap NASDAQ names, posted a new all-time high on slightly higher NASDAQ volume.
Futures shot higher as CPI came in as expected. Total CPI increased 0.2% in February and core CPI, which excludes food and energy, also rose 0.2%, both matching estimates. On a year-over-year basis, total CPI is up 2.2% (up from 2.1% in January) and core CPI is up 1.8% (unchanged from 1.8% in January).
Focus List Notes:
Blackberry (BB) is holding tight and just above its 50-dma as volume declined to -51.4% below average. This is constructive action following last Thursday's pocket pivot coming up through the 50-dma and keeps the stock within buying range while using the 50-dma as a selling guide.
Market Lab Report - Pre-Market Pulse for Tuesday, March 13, 2018
| Published: | 13 Mar 2018 08:59 ET |
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