Markets Today: Stocks Rally Despite Stronger Than Expected CPI Report

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Morning Markets March S&P 500 futures (ESH23) this morning are up +0.20% and March Nasdaq 100 E-Mini futures (NQH23) are up +0.18%. U.S. stock index futures this morning gave up most of their overnight gains after U.S. Jan consumer prices rose more than expected, which will keep the pressure on the Fed to keep raising interest rates. U.S. Jan CPI eased to 6.4% y/y from 6.5% y/y in Dec, stronger than expectations of 6.2% y/y. Also, Jan core CPI fell to 5.6% y/y from 5.7% y/y in Dec, stronger than expectations of 5.5% y/y. Despite this morning’s stronger-than-expected U.S. Jan CPI report, the 10…

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