CPI (E33)

The CPI print is scheduled to be released on Thursday, July 11th. SPY hits an all-time high hovering above 554, reflecting the bullish sentiment in the market. Investors are eagerly watching to see if this surge will lead to even newer highs or if there will be a retracement back down to the 545 level. Additionally, Powell will be speaking twice this week, and market participants are closely analyzing his speeches for any hints regarding the CPI’s impact on inflation and the possibility of a rate cut in September. Meanwhile, Bitcoin continues to trade between 60k and 50k, causing concerns among cryptocurrency traders and enthusiasts. In the real estate market, homes remain on the market for an average of 34 days, indicating a stable but not particularly brisk selling pace. Despite this, prices seem to be resistant to change, presenting a challenging environment for both buyers and sellers.