U.S. MARKETS:
The major averages eventually ended the session mixed. While the Dow dipped 70.46 points or 0.2 percent to 34,575.53, the S&P 500 inched up 5.54 points or 0.1 percent
to 4,467.44 and the Nasdaq rose 39.97 points or 0.3 percent to 13,813.59. The choppy trading on Wall Street came following the release of the Labor Department's report on consumer price inflation in the month of August. The report said the consumer price index climbed by 0.6 percent in August after inching up by 0.2 percent in July. The increase matched expectations. Excluding food and energy prices, core consumer prices rose by 0.3 percent in August after edging up by 0.2 percent in July. Economists had expected another 0.2
percent uptick.
The Labor Department also said the annual rate of consumer price growth accelerated to 3.7 percent in August from 3.2 percent in July. The annual rate of growth was expected to accelerate to 3.6 percent. Meanwhile, the report said the annual rate of growth by core consumer prices slowed to 4.3 percent in August from 4.7 percent in July, in line with economist estimates.
Following the report, CME Group's FedWatch Tool is indicating a 97.0 percent chance the Federal Reserve will leave interest rates unchanged next week.
The outlook for November remains more mixed, however, with the FedWatch Tool indicating a 58.0 percent chance rates will remain unchanged and a 40.8 percent chance of another quarter point rate hike.
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Wednesday. Japan's Nikkei 225 Index dipped by 0.2 percent, while China's Shanghai Composite Index slid by 0.5 percent.
The major European markets also moved to the downside on the day. While the U.K.'s FTSE 100 Index closed just below the unchanged, the French CAC 40 Index and the German DAX Index both fell by 0.4 percent.
In the bond market, treasuries moved modestly higher over the course of the session after seeing initial weakness. Subsequently, the yield on the benchmark ten-year note, dipped 1.5 basis points to 4.249 percent after reaching a high of 4.344 percent.
What about the January Barometer?
The January Barometer calls for a positive year-end outcome, but a lot can happen between now and then. Please check with previous editions discussing the calculation of the Barometer.
CRUDE OIL, U.S. DOLLAR, INTEREST RATES, BITCOIN AND THE UAP/UFO PHENOMENON
RECORDED THURSDAY AFTERNOON - SEPTEMBER 7 NEXT INTERVIEW SEPTEMBER 14.
https://tinyurl.com/4tn8h999
THE SPX IS TESTING AND BOUNCING OFF THE 150 MOVING AVERAGE BUT IT SHOULD BREAK DOWN THROUGH IT!
CRYPTO UPDATE AS OF SEPTEMBER 12
CANNABIS UPDATE FOR SEPTEMBER 13:
https://tinyurl.com/2rd9wv52
OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!
https://www.metastock.com/ products/thirdparty/?3PC-ADD- VRIS
COME ON, DAD. IT'S TIME TO EAT
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