Total CPI for April is hotter than expected
S&P futures vs fair value: flat. Nasdaq futures vs fair value: -45.00.
The S&P 500 futures trade in-line with fair value.
Just in, total CPI rose 0.3% m/m in April (consensus 0.2%), while core CPI, which excludes food and energy, rose 0.6% (consensus 0.4%). On a year-over-year basis, total CPI was up 8.3% (versus 8.5% in March) and core CPI was up 6.2% (versus 6.5% March).