Don’s Notebook July 12, 2018

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A big increase in the CPI would have emphasized ongoing inflation risks: a tight labor market, high energy prices, and the initial imposition of import tariffs. However, today’s report showed consumer prices edged only 0.1 percent higher overall in June and 0.2 percent for the core (ex-food ex-energy).

  • Initial jobless claims fell a sizable 18,000 in the July 7 week to a 214,000 level that is just below analysts’ consensus range.

Futures are higher this morning after yesterday’s session that saw the biggest declines of July for the Dow and the S&P 500 and a slide by the Dow back into negative territory for 2018.

Overnight global markets have improved:

  • The MSCI Asia Pacific Index halted two days of losses, while Japan’s Topix index closed 0.5 percent higher.
  • China’s Shanghai Composite Index climbed 2.2 percent.
  • In Europe, the Stoxx 600 Index added 0.4 percent, and the euro eked out a gain.

Comcast Corp. increased its takeover bid for Sky PLC to $34 billion, topping an offer from Rupert Murdoch’s 21st Century Fox Inc.

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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.