Joel Elconin – Inflation and Spending Data Stronger Than Expected, Leading All Markets Down
Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarket Prep website joins us to recap the inflation (PCE) and spending data released this morning, which broadly came in above estimates. This is shifting forecasts for Fed rate hikes to more/longer which is pushing markets down. Joel thinks the market highs for this year are in but markets will not go straight down to the lows of 2022.
Click here to visit Joel’s PreMarket Prep website.
It’s fun to report that I had the honor of appearing on Joel Elconin’s show today called “The Closing Print”
He was gracious enough to focus on the commodities sector with me, and it was a blast. We are blessed to have someone of Joel’s caliber sharing his insights with us here on the KE Report each week.
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PreMarket Prep “The Closing Print” – February 24, 2023
Guest: Shad Marquitz-Co-host of the Korelin Economics Report and veteran commodities/equities trader.
Join Joel and guests as they follow trading set-ups from the previous night and those detailed in the morning shows. Gain insights on opening-only orders and the sympathy moves from catalysts in the after-hours or premarket. Finally, learn how the order flow from the open may impact price action for the remainder of the day.
https://www.youtube.com/live/bMKhSZSBAYA?feature=share&t=473
Outstanding interview. Ever Upward!
Thanks Lakedweller2. Too bad it was a discussion on commodities on a day when they were falling apart and the US Dollar was surging, but still it was a hoot to be on Joel’s show.
I can foresee where your services are going to be in more demand than you have time.
Thanks again Lakedweller2.
I already feel that way every time my wife shows me her “honey do” list for me. Haha!
Hi Ex, I knew it wouldn’t be long before you were being interviewed. You can ask the questions and give the answers, the complete package. The world is your oyster, and this didn’t happen overnight you got where you are through hard work, and it shows. Happy Trails! DT
Those kind words are much appreciated DT.
I have put in a lot of hours and hard work to learn more about investing for over 2 decades, but really am still just a neophyte learner. A blessing to me has been picking up tips and strategies all the time from folks like you on this blog, and all the well-informed guests we bring on the show each week. Cheers!
U.S. Stocks Are Falling After Hot Inflation Data Stokes Rate Fears
Investing.com – Feb 24, 2023
“The Dow Jones Industrial Average fell 490 points or 1.5%, while the S&P 500 was down 1.6% and the NASDAQ Composite was down 2.1%.”
“A key inflation measure used by the Federal Reserve, called the personal consumption expenditure index, rose 0.6% in January, faster than the 0.2% gain in December.”
“On an annual basis, PCE rose to 5.4% in January from a 5.3% gain in December. Core prices, stripping out fuel and food, rose 0.6% and 4.7% for the month and year, respectively. The readings were higher than expected.”
https://www.investing.com/news/stock-market-news/us-stocks-are-falling-after-hotterthanexpected-inflation-data-3014230