Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are set to finish the trading week on a high note ahead of U.S.-Iran and Israel-Lebanon peace talks.
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Forget margin or options. Here's how the pros trade QQQThe two indexes have remained resilient in the face of two concerning economic data points. First, the Consumer Price Index (CPI) increased by 0.9% month-over-month in March, registering the largest monthly gain since June 2022. At the same time, core CPI, which excludes volatile food and energy prices, was 0.2%, below the consensus estimate of 0.3%.
Consumer Sentiment Drops to All-Time Low
Elsewhere, the preliminary Index of Consumer Sentiment for April fell to an all-time low of 47.6 as consumers across all demographic groups expressed concern about the U.S.-Iran war and rising gas prices. It’s worth pointing out that 98% of the responses were collected before the U.S. announced a two-week ceasefire with Iran on April 7.
Furthermore, consumers now expect year-ahead inflation of 4.8%, up from 3.8% in March. Long-run inflation expectations edged higher to 3.4% from 3.2%.