Stocks Finished Lower Ahead Of This Morning's CPI Inflation Report

Plus 5 New Strong Buys for Today Stocks Finished Lower Ahead Of This Morning's CPI Inflation Report [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Finished Lower Ahead Of This Morning's CPI Inflation Report [Stocks Finished Lower Ahead Of This Morning's CPI Inflation Report]Image: Bigstock Stocks closed sharply lower yesterday, erasing their weekly gains and putting the indexes on the defensive going into this morning's CPI report. The last CPI report, and PPI report for that matter, both ticked lower from previous readings, which have led some to speculate that inflation may have peaked. We will get a better picture of that this morning when the Consumer Price Index is released, and we'll see if it ticked lower once again, or if it ticked back up. We'll then get the Producer Price Index next week. But first things first. The consensus for this morning's CPI is 8.2% y/y vs. last month's 8.3% and March's 8.5%. Ex-Food and Energy, the consensus is for 5.9% y/y vs. last month's 6.2%. If it comes in hotter than expected, then it's likely to be interpreted that the Fed may raise rates higher and faster. But if it comes in as expected or lower, that could lead people to believe that the Fed will stay on its current path of 50 basis points later this month and again in July, and then possibly slow down to 25 basis points in September. That's all conjecture at this point. But the number is not, and we'll find out what that is at 8:30 AM ET. In other news, the European Central Bank (ECB) said they would be raising interest rates in July. The first time in a decade. A quarter-point next month, and then a half-point in September. And their bond buying program will wrap up at the end of this month (June). (Euro zone inflation is at a record-high 8.1%.) Yesterday's plunge was a bit surprising ahead of this morning's report. So traders who pressed the market yesterday will find their actions to either be prescient, or premature. We shall see. Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Will You Profit from the Blockchain Boom?]( According to experts, it's 10 times more valuable than the internet. This "Internet of Money" is already changing the way the world does business. It's projected to skyrocket +4,525% from $4.9 billion today to nearly $228 billion billion by 2028. Now Zacks is targeting blockchain technology that drives cryptocurrencies like Bitcoin and others. The goal is to ride the growing boom without whiplash volatility from investing in the cryptos themselves. Special opportunity ends at midnight Sunday, June 12. [See our blockchain stocks now »]( Most Popular Articles from Zacks.com [Buy 5 Oil Refining Stocks to Lessen Your Pain At the Pump]( These downstream firms have lots of upside and are likely to see impressive revenue and cash flow growth. [Read More »]( [4 Staffing Stocks to Watch on Solid Job Additions to Economy]( With jobs additions likely to continue in the coming months, investors should keep an eye on these stocks. [Read More »]( [3 Stocks to Buy Now to Help Fight Possible Stagflation]( We selected three dividend-paying stocks that are poised to keep growing in the near term. [Read More »]( [Top Value Stocks with Amazing Dividend Yields]( In 2022, you can find cheap stocks that are paying cold, hard cash. Lots of it. [Read More »]( [Best ETF Ideas for the Second Half of 2022]( Director of ETF Research Neena Mishra speaks with Matthew Bartolini, Head of SPDR Americas Research, about the market outlook and investing strategies for the rest of the year. [Read More »]( [Your Exclusive Access to Today’s Top ETFs]( Use Zacks ETF Rank to help you select the very best ETFs for your portfolio. This quantitative ratings system takes into account asset class forecasts as well as several ETF-specific factors. All to give you a comprehensive account of a fund's potential before you invest your money. [See Today's Top-Ranked ETFs »]( [Bull of the Day: Kronos Worldwide, Inc. (KRO)]( This Zacks Rank #1 (Strong Buy) stock has surged over 200% since the March 2020 bottom. [Read More »]( [New Zacks Strong Buys for June 10th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( More Zacks Resources Mobile App Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Zacks Members' Success Stories Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms of Service". [www.zacks.com/terms_of_service]( Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through May 2, 2022. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit [( for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from [Zacks.com]( the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please [click here]( and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com. Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606