2019 Econoday Investor's Journal Buy Now
Market Reflections  

March 13, 2018
Inflation in February, as first indicated by average hourly earnings in last week's employment report, proved subdued as confirmed by the core rate of today's consumer price report which managed only a modest monthly gain and where the yearly rate edged back slightly. The results do not turn up the heat for the Federal Reserve to pencil in additional rate hikes this year.

But the Dow, unlike last Friday, didn't take off on the news, down 0.7 percent to 25,007 to bring its two-day loss to 1.3 percent. Oil is also down, 2.4 percent lower so far this week to $60.60. But the 10-year Treasury note is having a good week as the yield slipped several more basis points to bring its two-day dip to 6 basis points.