Husky Inu (HINU) Gearing Up For Price Jump
Latest inflation data from the US Bureau of Labor Statistics shows that the consumer price index (CPI) for August rose 0.4% against an expected 0.3%. However, the data aligns with the forecasted annual inflation rate of 0.29%. Core CPI, which excludes food and energy, rose 0.3% in August and 3.1% annually. The numbers were in line with forecasts, boosting investor sentiment.
The Consumer Price Index (CPI) is at its highest level since January. However, jobless claims also registered a sharp jump, rising to 263,000 against the expected 235,000.
“Weekly jobless claims just hit 263,000. That's the highest weekly number since October 2021.”
Ongoing concerns about labor market weakness have strengthened the chances of a rate cut by the Federal Reserve. Markets believe there is an 11% chance the rate cut will be more than the expected 0.25%. The Koebeissi letter noted in a post on X that markets are pricing in a larger rate cut,
“Markets are now pricing in 75 basis points of rate cuts by year-end. While CPI inflation continues to rise, the labor market is simply too weak to ignore. Next week will be a big week.”
