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Stocks Find Support as CPI Slows

  • US equity markets traded in negative territory across both futures and cash space Tuesday, albeit indices recovered off the session lows as the pace of CPI inflation slowed across August. The figure came in below expectations, possibly adding to the pressure on the Fed that began with August's lower-than-expected payrolls.
  • Indices continue to see support ahead of the key 50-dma. For the e-mini S&P, this level at 4423.84 has helped stem downside on numerous occasions this year, so will remain a market focus.
  • The financials sector led markets lower, with the flattening of the US Treasury curve working against banking names. Energy and industrials similarly traded poorly.

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