A Big Wednesday

We knew that today would be volatile...we just weren't sure of the direction. Now that the CPI is behind us and we have seen some pleasant upside volatility, concern shifts to this afternoon's FOMC Fedlines and Jerry presser where downside volatility may return.

But let's worry about Jerry later. For now, let's try to summarize what has taken place today. The latest CPI report came in below expectations across the board and, if it was for some rounding UP instead of rounding down, it might have been even lighter. That said, it was pretty positive for news for all "markets". Here'...

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Key Economic Events Week of 7/22

7/23 9:45 ET July Flash PMIs
7/23 10:00 ET Existing Home Sales
7/24 10:00 ET New Home Sales
7/25 8:30 ET Q2 GDP first guess
7/25 8:30 ET Durable Goods
7/26 8:30 ET PCE and Core PCE
7/26 8:30 ET Personal Inc and Spend

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