the staff of the Ridgewood blog
Washington DC, the Producer Price Index for final demand declined 0.5 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.2 percent in November and 0.4 percent in October.On an unadjusted basis, the
index for final demand increased 6.2 percent in 2022 after rising 10.0 percent in 2021.
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In December, the decrease in the final demand index can be attributed to a 1.6-percent decline in prices for final demand goods. In contrast, the index for final demand services rose 0.1 percent.
Prices for final demand less foods, energy, and trade services edged up 0.1 percent in December after increasing 0.3 percent in November. The index for final demand less foods, energy, and trade services advanced 4.6 percent in 2022 following a 7.0-percent rise in 2021.
The Fed can’t pivot with stocks at these levels. It needs to shock the market back down with hawkish jawboning and further hikes if absolutely necessary. It also needs jobs reports to start showing that jobs are being lost before it can stop hiking rates.
Therefore, stocks should fail here and either double bottom or make a new low. Gold could pull back before reaching new highs. Silver probably won’t catch up until a true pivot is on the table.
The silver gold ratio is widening right now due to central bank gold buying and speculation about silver demand from the collapse of EV sales, etc.
Yeah but why does my Italian hero now cost $12 ?
I’ll have a Western omelet, please.
No wonder it cost me 10 bucks for an egg sandwich and a coffee and Ridgewood
I got a slice of pizza on Sunday for $4.25.
The prices are getting ridiculous, And half of the food is not even that good.