Here is a breakdown of where each market driver currently sits. Learn more about how these Three Market Drivers help us determine these results.
The U.S. Consumer Price Index, or CPI, came in at 3.67% year-over-year growth, an increase from
last month’s 3.18%. The main contributor to this increase was a 5.6% spike in energy prices in Au-
gust. The U.S. Core CPI, which is the CPI ex-food and energy, came in at 4.39% year-over-year
growth, a decrease from last month’s 4.70%. While the continued decline in the Core CPI’s growth
rate is a positive sign, we have to keep an eye on energy prices and how they may affect the CPI in
coming months.
The S&P 500 has remained married to its 50-Day Moving Average since our last newsletter, implying that the market is unsure of which direction to take ahead of a pivotal meeting by the Fed regarding their next course of action with interest rates.
The University of Michigan’s Consumer Sentiment Index preliminary level for September came in at
67.7, a slight decline from August’s 69.5. This marks two consecutive months of decline after July
had been the highest level since October 2021.
