Stocks End Mixed, All Eyes On This Morning's CPI Inflation Report

Market Moves You Need to See Stocks End Mixed, All Eyes On This Morning's CPI Inflation Report [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Mixed, All Eyes On This Morning's CPI Inflation Report [Stocks End Mixed, All Eyes On This Morning's CPI Inflation Report]Image: Bigstock Stocks ended mixed yesterday with the Dow closing modestly higher, while the S&P and Nasdaq closed moderately lower. There was a bit of uneasiness going into the day after NVIDIA's key downside reversal on Friday. A key downside reversal is characterized by an open that's above the previous day's close, it then makes a new high, and then closes below the previous day's low. Actually, we saw reversals in the S&P and the Nasdaq on Friday too. But while those indexes and NVIDIA were down yesterday, it was nothing out of the ordinary. And not all reversals mean anything. The Dow did not see a key reversal. Nor did the Russell 2000, or the S&P 400. But plenty of eyes are on NVIDIA. I don't think anybody thinks this is the end for NVIDIA. But it could signal a pause given its spectacular run over the last 15 months. If so, this could be a blessing in disguise as it could allow for a better entry point for latecomers or those who want to beef up their position. The key reversal pattern is no longer in effect once the stock or index takes out the previous high. Some stocks couldn't have cared less about any of the talk above. Oracle, for example, was up 1.52% in the regular session before earnings. And after the close they posted a 2.92% positive EPS surprise, and a 0.04% positive sales surprise. They soared more than 14% in after-hours trade. Today we'll hear from 248 companies on deck to report. On the economic report front, we'll get the NFIB Small Business Optimism Index, and the always important Consumer Price Index (CPI) inflation report. Last month's CPI showed headline inflation ticking down once more, although by less than expected. And core inflation (ex-food & energy) was flat. But both measures are well off the peak inflation highs we saw in the summer of 2022. Today's CPI report expects headline inflation to be up 0.4% m/m (vs. last month's 0.3% pace), with the y/y rate at 3.1% (in line with last month's 3.1% as well). The core rate is expected to be up 0.3%, under last month's pace, while the y/y rate is expected to fall to 3.7% vs. last month's 3.9%. That comes out at 8:30 AM ET. After today's CPI report, we'll get the Producer Price Index (PPI) inflation report on Thursday, 3/14. And those will be the last inflation reports we'll get until next week's FOMC meeting on March 19-20. While nobody is expecting the Fed to cut rates next week, they are expected to begin talking about when cuts might begin and how big. And a few more good inflation reports would augur well for cutting rates sooner rather than later. In the meantime, we've got a busy week of earnings and economic reports, starting with this morning's CPI. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [How to remove time, money, and expertise from the investing equation]( How To Improve Your Trading by Investing The easy way to turbocharge your passive investing plans using what Einstein coined as "the eighth wonder of the world" [Get Your Passive Income Accelerator]( Today's Top Research [These Retail Apparel Stocks are Standing Out in Terms of Growth & Value This Earnings Season]( Investors looking for stocks with sound value and attractive growth prospects should take a look at these retail sector stocks. [Read More »]( [5 Must-Buy Soaring Tech Giants With More Upside in Near Term]( Each of our picks sports a Zacks Rank #1 (Strong Buy) and has seen positive earnings estimate revisions in the last 30 days. 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