S&P, Nasdaq Notch Weekly Decline Despite Good CPI Numbers
Aug 11, 2023
• 6
Min Read
“I've been all over the world and I've never seen a statue of a critic.” ~Leonard Bernstein
Good evening:
Consistent with previous Fundstrat warnings, the second trading week of August continued to be choppy. Ultimately, the S&P 500 and the Nasdaq both fell for their second consecutive week. It was the first time the Nasdaq has notched back-to-back losing weeks this year.
For Fundstrat Head of Research Tom Lee, the biggest news came in the form of economic data releases, especially Thursday’s CPI release. Core CPI came in at 0.16%, beating Street expectations of 0.22%. For ...