INSTANT VIEW/US stocks seen up after tame core CPI
NEW YORK, Sept 15 (Reuters) - Wall Street stocks were expected to open higher on Wednesday after the August Consumer
Price index rose by 0.3 percent. The co-called ``core'' CPI, which excludes food and energy prices, rose by a milder than
expected 0.1 percent.
Economists polled by Reuters had expected prices to rise 0.3 percent overall with a 0.2 percent rise in the core rate.
Following are analysts' comments regarding the report:
PETER CARDILLO, DIRECTOR OF RESEARCH, WESTFALIA INVESTMENTS
``That's good. Core is only up 0.1 percent so we are headed here for good rally. It's a friendly number to the markets. It should relieve pressure today.''
ALFRED GOLDMAN, TECHNICAL ANALYST AT A.G. EDWARDS AND SONS IN ST. LOUIS
``The numbers were a pleasant surprise.''
``This is manna from heaven for the bulls. It's going to be happy days are here again, at least in the beginning.''
JEFFREY PALMA, ECONOMIST, WARBURG DILLON READ
"This is good for the market and should confirm that the Fed will stay on hold at the Oct. 5 meeting. Energy prices were up, gas prices up ... but no follow through to
the core numbers.
"This is consistent with our view that the Fed is on hold at the Oct. 5 meeting.
ART HOGAN, CHIEF MARKET ANALYST AT JEFFERIES & CO., BOSTON:
``We'll breathe a sigh of relief and I believe that the bond and equity markets will'' rally at the open ``absolutely, without a doubt.''
NEW YORK, Sept 15 (Reuters) - Wall Street stocks were expected to open higher on Wednesday after the August Consumer
Price index rose by 0.3 percent. The co-called ``core'' CPI, which excludes food and energy prices, rose by a milder than
expected 0.1 percent.
Economists polled by Reuters had expected prices to rise 0.3 percent overall with a 0.2 percent rise in the core rate.
Following are analysts' comments regarding the report:
PETER CARDILLO, DIRECTOR OF RESEARCH, WESTFALIA INVESTMENTS
``That's good. Core is only up 0.1 percent so we are headed here for good rally. It's a friendly number to the markets. It should relieve pressure today.''
ALFRED GOLDMAN, TECHNICAL ANALYST AT A.G. EDWARDS AND SONS IN ST. LOUIS
``The numbers were a pleasant surprise.''
``This is manna from heaven for the bulls. It's going to be happy days are here again, at least in the beginning.''
JEFFREY PALMA, ECONOMIST, WARBURG DILLON READ
"This is good for the market and should confirm that the Fed will stay on hold at the Oct. 5 meeting. Energy prices were up, gas prices up ... but no follow through to
the core numbers.
"This is consistent with our view that the Fed is on hold at the Oct. 5 meeting.
ART HOGAN, CHIEF MARKET ANALYST AT JEFFERIES & CO., BOSTON:
``We'll breathe a sigh of relief and I believe that the bond and equity markets will'' rally at the open ``absolutely, without a doubt.''
