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CPI Day Is Here. Trading Ranges Expected to Expand
Tom Lee makes a bold call for the S&P.
Danny Riley
July 12, 2023
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Our View
Bold calls by bold men...Today is a big day for Tom Lee, who says the S&P can rally 100 handles on a better-than-expected CPI result.
What I can say is the ES popped on Monday's close and ripped on yesterday's close as the 3:50 cash imbalance showed $2.5 billion to buy.
It’s hump day and the inflation report is due up at 8:30 a.m. ET, so I'm going to keep this short and sweet: Bank earnings are on TAP (on Friday) and the rotation that no one is talking about is back into the energy stocks.
Let's see how the CPI number plays out today to set the tone going into earnings.