Reply To: Traders Market Weekly: Eyes Up on Retail and Inflation


April core PPI is better than feared

S&P futures vs fair value: -27.00. Nasdaq futures vs fair value: -163.00.

The S&P 500 futures trade 27 points, or 0.7%, below fair value.

Producer Price Index rose 0.5% m/m in April (consensus +0.5%), and core producer prices rose 0.4% m/m (consensus +0.6%). Year-over-year, producer prices were up 11.0% (vs. 11.5% in March) while core producer prices were up 8.8% (vs. +9.2% in March).

Latest weekly initial jobless claims count totaled 203,000 (consensus 191,000), which was above the prior week’s revised count of 202,000 (from 200,000). As for continuing claims, they decreased to 1.343 million from a revised count of 1.387 million (from 1.384 million).