The PPI is important because it's the first piece of real inflation data of the year. And while the PPI has been rising, the CPI has not been keeping pace. Corporate America must be getting squeezed in the middle.
More Quotes from Paul Mendelsohn:
However, the market has already discounted first-quarter earnings, and maybe even second, ... The greater concern is about the economy going forward.Paul Mendelsohn
Intel is going to have to have a very, very good report, or we could see more selling in that sector.
Paul Mendelsohn
The G7 meeting is probably going to be pretty contentious. It remains to be seen if anything comes out of it that would influence the dollar on Monday.
Paul Mendelsohn
Everyone is setting up for tomorrow's employment reports. It's a big mover of all markets, so people don't want to be caught on the wrong side. People want to go in neutral. We'll see this position squaring across the board ahead of that number.
Paul Mendelsohn
While that's a significant number, I believe that the consumer-confidence numbers are more significant. I'd be much more interested to see what the September numbers will be, so we can see what the damages on the economy from the hurricanes will be.
Paul Mendelsohn
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