SPY and QQQ Enter Consolidation Phase as Inflation Holds Steady
The S&P 500 and NASDAQ-100 are stuck in neutral as macro data signals a pause in the market's recent rally.
Both indices closed essentially flat Monday with SPY down 0.23% to $769.35 and QQQ slipping 0.65% to $716.43. Inflation Stays Tame, Unemployment Falls to 4.1 Percent: Today's Data Recap
Key Takeaways Inflation remains in a last mile plateau with CPI up just 0.07% and PCE up 0.16% month-over-month. Fed funds rate steady at 3.63% while unemployment improves to 4.1%. Tech earnings season concluded with mixed results, leaving QQQ underperforming SPY slightly. Investors appear to be digesting gains rather than charging ahead. our Fed policy coverage
Latest economic numbers tell a story of stab…
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