A hotter-than-expected CPI report resulted in a quick reversal in stock futures Tuesday morning. Dow futures, which were up more than 200 points shortly before 8:30 a.m. EDT, were down more 300 points following the release. Nasdaq 100 futures saw a negative swing of nearly 3%.
Megan Henney for Fox Business:
The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.3% in August from a year ago. Prices climbed 0.1% in the one-month period from July.
Those figures were both higher than the 8.1% headline figure and 0.1% monthly decline forecast by Refinitiv economists, likely a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand.
Scorching-hot inflation has created severe financial pressures for most U.S. households, which are forced to pay more everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily impacted by price fluctuations.
CNBC:
The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year.
Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year estimates were for 8% and 6% gains.
The food index increased 0.8% in August and shelter costs, which make up about one-third of the weighting in the CPI, jumped 0.7% and are up 6.2% from a year ago.
Markets slumped following the news, with futures tied to the Dow Jones Industrial Average down nearly 350 points after being higher earlier.
MacDailyNews Take: Apple (AAPL) shares are currently down $3.40 (-2.08%) to $160.03 in pre-market trading.
In January, Interactive Brokers founder Thomas Peterffy said, “1% or 2% [in interest rate hikes] doesn’t mean anything. If they really wanted to stop inflation, they would have to raise rates to 4%, 5%, 6%.”
The Fed’s current target interest rate range is 2.25% to 2.50%.
‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021
Stop the misguided crusade against domestic energy production and profligate federal spending and inflation will be stopped dead in its tracks. It’s not difficult. – MacDailyNews, May 11, 2022
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
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See you at midterms! 🤣🤣🤣
This inflation spiral is all about the pseudo-religion of global warming (climate change) and the misguided pseudo-religious war on energy sources that actually are affordable and work.
Leftists, Democrats, and Establishment Globalists have turned their backs on religion, but the human soul knows there is a greater force and hence searches for God, so they have substituted “Climate Change” for “God.”
“Climate Change” is the false god of Leftists, Democrats, and Establishment Globalists.
This is why they hated Trump so much.
Not for the “mean tweets,” but for canceling the stupid, do-nothing, holy scripture Paris Agreement immediately upon assuming office. It was among the very first travesties into which their installed puppet Biden re-entered – illegally, of course (treaties like this actually require congressional approval in America).
With “Climate Change” as their “God,” and after years of demonizing a businessman who brought America to the lowest unemployment ever measured, it’s clear why they embraced “By Any Means Necessary” and rigged the 2020 election using COVID as a cover to install a controllable puppet using Zuckerberg-funded drop boxes that lacked a verifiable chain of custody into inner-city Democrat districts to get “votes” into the system that no audit or court could remove after the fact.
Leftists, Democrats, and Establishment Globalists believe they have “God” (overwrought, continually wrong, climate change fairy tales of doom) on their side, so they feel they can do anything: Bogus impeachments, rigging elections, wide-open borders, war on energy creating four-decade-high inflation, weaponizing the FBI against a president over nothing, etc.
I fear for Trump’s life. I hope he has more than adequate, uncorrupted protection. The leftist zealots will clearly stop at nothing in the name of their false god.
“Climate change” is a psy-ops campaign.
Intelligent people see right through it. Morons lap it up and ask for more (half the people you pass on the street are, by definition, below average intelligence – hence, democrats).
The really smart people play along with the ruse, making a shit ton of cash from it by manipulating the morons.
Same (or lower) temps, but color changed to make it “scary” to drooling idiots, useful pawns:
The inflation numbers may be a little high, but with the President’s new focus, cancer will be defeated soon. With such a serious topic, at least he can ease the challenge with a little humor. Let’s stand by our leader.
All the uproar and commotion! The President’s Inflation Reduction Acting was just recently passed…give it some time.
You forgot your sarcasm tag.
“The leftist zealots will clearly stop at nothing in the name of their false god.”
You mean like how right zealots actually did clearly stop at nothing to kill (and go after Pence & other politicians, actually killing Capitol Police) for their blatantly obvious conman Trumpy false god on Jan. 6th with their march on the Capitol while Electoral College votes were being entered into the record? Do you ever listen to yourself for the sheer misguided jaw-dropping irony?
You are clearly no Christian and you’re about as poor an example of someone who thinks he is as I’ve seen. Laughable, hypocritical and sanctimoniously silly. I hope on Judgment Day you dearly pay for it. Go start your own theocracy/autocracy somewhere else and see how that works for yah. Clearly the Founding Fathers did not want ours to be set up that way. They only guaranteed Freedom of Religion (and there’s more than one if you’ve noticed), not freedom of religious zealots to take over and force everyone to their views. That’s simply not America.
No Capitol Police were killed on Jan. 6. Why do you lefties always lie?
Now say the name of the one person who actually was murdered on Jan. 6.
Say it!
Ashli Babbitt.
She was murdered by a Capitol Policeman.
Guess what happens when you are told not to enter with threat of lethal force by a police officer in an area you know you’re not supposed to be moron? Ashli Babbitt was an idiot like you who tempted the fates and lost. She deserved what she got and should have known better, a LOT better.
Capitol Police Officer Brian Sicknick died of a stroke hours after no doubt caused by the trauma and treatment of that day and the suicide of four other officers was no doubt also caused by the trauma and treatment by the Republitard insurrectionist attackers. Not to mention injuries. You can keep your head in the sand about it if you choose to remain stupid. Ashli was in the wrong as was every person on Capitol grounds that day with intent to take over our government. Stop wearing blinders!
“Ashli Babbitt was an idiot like you… She deserved what she got… Ashli was in the wrong”
Obviously, ZERO empathy or understanding for Trump supporters who died from a lying brainless Leftist.
“suicide of four other officers was no doubt also caused by the trauma and treatment by the Republitard insurrectionist attackers. “
NO, plenty of doubt! Four officers who committed suicide were not harmed and went home on Jan. 6.
“insurrectionist attackers”
The BIG LIE to prevent Trump from running in ’24 if he is convicted of insurrection. The most laughable accusation from the Democrats and parroted by sycophant enablers/supporters in Big Media and dummies around here.
Protestors without firearms or military equipment do not qualify as insurrectionists overthrowing a government. Possibly the looting, killing, burning, and assaults on hundreds of police officers, many DIED, in a dozen cities for six months in 2020 is a whole lot closer.
~~~ Living rent free in the empty head of @Gaslit GoeB…
Which “lying brainless Leftist” are you referring too? Only pure conservatives are brainless anyway. I am not a leftist but morons like you can’t believe someone could entertain both left and right views because you’re such a righty-tighty extremist. One size does not fit all. But you don’t want discussion. It’s your way or the highway. And that is why you will fail.
Yes I highly approve of what happened to Ashli or to anyone who threatens our democracy as suckered Republiturds were that day by a conman. I only feel sorry she was a victim of Trump’s insurrectionist speech as were many. They followed a guy who could care less about them and was only interested in money and power – at any cost. But they followed what is patently wrong and obviously wrong, not to mention un-American and paid the price. Threaten the U.S.A. due to your own stupidity and you get what you deserve. This country isn’t about only one man. That’s fascism.
“You mean like how right zealots actually did clearly stop at nothing to kill… actually killing Capitol Police)”
You lie — 100% FALSE! On January 6, ZERO Capitol police officers died, period!
Four people died on January 6:
1~Ashli Babbitt (Trump supporter) was fatally shot by a Capitol police officer and has not been charged.
2~Kevin Greeson (Trump supporter) died of a heart attack.
3~Rosanne Boylan (Trump supporter) died of an overdose.
4~Benjamin Philips (Trump supporter) founder of a pro-Trump website, died of a stroke.
In the days and weeks after the riot, sad to report five police officers who served that day died. Four officers died from suicide and one officer Brian D. Sicknick died after J6 from injuries sustained engaging with protestors.
~~~ Living rent free in the empty head of @Gaslit GoeB…
You really ARE as stupid and sick as you sound. Officer Brian Sicknick died hours after the Jan. 6th attack and 4 other officers committed suicide due to the events of that day. Not to mention all of the injuries perpetrated by your traitorous party people. You couldn’t be more reprehensible and inhuman along with the rest of the conservative idiots here. Some Christians! Oh but Lucifer has long since welcomed you all anyway with open arms, recognizing who and what you really are.
Well, suspect I know who the zucker voting manipulator is on this thread.
I posted response to @Gaslit GoeB at 4:33 PM and by 4:47 PM @Super-Gaslit GoeB responded — a MERE 14 minutes later.
Judging by number of star votes in that same small timeframe: I received 14 (1.5-star DOWN-votes) and miraculously @Super-Gaslit GoeB received 16 (5-star UP-votes).
A lot of FEVERISH DISHONEST work for ZERO benefit. Do you agree @Gaslit GoeB and minutes later change to @Super-Gaslit GoeB? Well, once an accomplished liar and practitioner of voting fraud, don’t expect you to find redemption anytime soon.
BTW, ALL the officers died “hours later.” The number of hours you did not mention in several posts and be careful will hold you accountable if you LIE again, I already know the answer. The FACT is @Some Dude and me already posted, pay attention and I REPEAT, ZERO police officers died on January 6.
Certainly, have compassionate empathy for the officers AND Trump supporters that passed away. In your own words — YOU DO NOT.
~~~ STILL living rent free in the empty head of @Gaslit GoeB and @Super-Gaslit GoeB…
What difference does it make the number of hours before death you heartless misanthropic moron? They died as a result of Jan. 6th and if your like-minded traitorous compatriots had not marched on the Capitol those same officers would probably still be alive. People like you really are worthless bottom feeder lowlifes.
Don’t flatter yourself loser. You don’t get I’m mocking you. Really dense aren’t you? Comes with the clueless conservative cult views territory.
@Gaslit Garbage GoeB and variants of same name, did not respond to DOZENS of VOTES on two posts in a 14-minute timeframe clearly manipulated. No surprise the idiot repeatedly concocting meaningless FALSE outcomes, DEFLECTS to:
“What difference does it make the number of hours before death you heartless misanthropic moron?”
The difference it makes your first post “hours” were of utmost importance. But now, hours are NOT that important because you were CAUGHT LYING – smart readers get that, despite more lies and deflection. Now imitating your hero Hillary, “what difference does it make?” Answer: You clearly do not know.
Let the evidence speak for itself regarding being called: ”heartless misanthropic moron”
@Gaslit GoeB, 1:55 PM: “Democrats are far better Christians than you could ever hope to be. Democrats do try to help other people as Christ did”
@Gaslit GoeB, 2:22 PM: “You are clearly no Christian… I hope on Judgment Day you dearly pay for it.”
@Gaslit GoeB, 4:27 PM: “Ashli Babbitt was an idiot like you who tempted the fates and lost. She deserved what she got”
@Gullible Gaslit GoeB, 5:16 PM: “Yes I highly approve of what happened to Ashli”
Nothing like honesty, caring for fellow citizens, empathy for others, zero double standards and absent remote signs of hypocrisy. /s
Screen Scum gaslit names are GROWING.
~~~ Now living rent free in FOUR EMPTY HEADS: @Gaslit GoeB, @Super-Gaslit GoeB, @Gaslit Garbage GoeB and my favorite, @Gullible Gaslit GoeB… 🤣🤣🤣🤣🤣
GoeB doesn’t give a rat’s ass about what happened to Trump MAGAt morons at the Capitol. How disingenuous can you get faking empathy while being part of a group attacking one of our most sacred institutions? Crocodile tears. Typical ineffective & transparent conservative tactic.
Anyone who turns traitor to our country deserves everything they get. I mean there’s not even an issue here regarding Benedict Arnold activity but moronic conservatives pretend they’re paragons of virtue (BWAHAHAHA!!!) while plotting to usurp our country and turn us back into the Stone Age. Not to mention trying to truly steal elections with ridiculous legislation making it harder to vote when none was needed. But now they can pretend there was a question and employ draconian justification and methods to “fix” it.
All while spouting lies, disinformation and hypocritical drivel to other misinformed idiots. You peeps are human garbage with no redeemable qualities. I have not seen one conservitard here act in anything resembling a decent Christian manner in the 10-15 years I’ve been on this page. You’re mean, cheap, vicious, hypocritical and severely lacking. People you’d never want to know in real life. Of course this page attracts the loser moths to the Apple flame. Never commenting on anything but a post with a political angle. Motivation being grotesquely obvious. Deplorable a-holes all.
Well detailed synopsis of the major factors dragging down the U.S. economy and “win at all costs” religion employed by the Leftist cabal to destroy our representative democracy and those that have alternate beliefs.
Expect expanded subpoenas by the J6 FRAUD committee engineered by the Pelosi HATE machine and the Cheney REVENGE machine, it is crystal clear to everyone zero interest in all aspects of fair fact finding. J6 picked puppets designed to take down Trump before ‘24 election, jail, harass and more broadly intimidate his legions of loyal followers and voters.
Now that MAGA declared a clear and present danger by and to the current administration in swamp Washington, be prepared for more Trump supporters phones confiscated and homes invaded before November on false fishing expeditions.
Interesting to watch if zucker voting trolls once again, after they wake up from last night’s high, falsely manipulate your star rating.
Example: early this morning on first read noticed NINE votes perfect score of 5-stars. Let’s watch and LAUGH by the end of the day, as with most commonsense commentary around here, suspect the downvotes will overtake the upvotes.
But certainly, we don’t obsess over constant vote manipulation here and kudos to MDN one of the few Internet forums where conservative voices are HEARD and not CENSORED.
Agreed, also fear for the life of our great MAGA president. Absolutely remarkable his unprecedented RESOLVE, standing TALL under relentless DAILY ATTACKS from all over the Leftist spectrum in the darkest corners. I simply marvel at the strongest convictions I have ever seen in a politician. He is the ONE. May the Lord watch over him…
I ask 3 questions concerning climate change to those who buy that religion:
1. How do you measure ‘climate change’?
2. Where is it at?
3. What should it be?
Only answers I’ve ever received is snark…
I would love to give you some references, but all I’ll get is snark.
“Jill, I’ve always wanted to be one to break records.” Well, Joe, you’ve done it! 40 year record that is. You’re such a Big Guy!
Crashing market
Flooded border
High gas
High inflation
Thanks libturds, you are too fscking stupid to know the damage you have done
As usual, just a mention of the word “inflation” and all the right-wing conspiracy-theorist Trump-huggers come crawling out of their dungheaps to repeat the usual vitriol and nonsense.
These conservaturds think that they are America.
They are a small cult with loud mouths.
The truth will never enter their heads, even if they are washed away by floods or burned by heat waves.
Doesn’t bother me.
Bye bye.
Agreed! All the rest of us normal people love high prices!
Me too! I love it when the Dow drops 400 points. Open border? Just yesterday, Kamala just told us it was secure. High gas prices? Really? Isn’t gas down 3 cents per gallon? I’m saving so much! Inflation was only +8%. Way below 10%. I don’t know what all those right-wing conspiracy-theorist Trump-huggers are complaining about.
Can’t refute my points, so you resort to democrat party playbook insults that are so weak they’re funny. Weak minds sooth themselves with climate apocalypse porn.
Fun fact: I actually have hugged President Trump.
See you at midterms!
(You won’t be able to don rubber gloves to stuff enough drop boxes lacking chains of custody at 3am this time.)
Sincerely,
Small Cult
I wouldn’t waste my energy and time refuting your “points”. When you equate climate change with a god and make similar bullshit statements, it’s not worth the effort.
Do you even believe in God? Or are you a typical godless democrat?
It’s telling idiots like you use religion as a criteria when you yourselves do not truly follow. Christ’s tenets are simply ignored when they prove to be inconvenient to the gaslit out there. That to me is true evil.
The tone of conservatives here proves there is absolutely no Christ being followed and walking the walk. But then hypocrisy IS your middle name. Hate to break it to you but we are neither an autocracy nor theocracy and separation of church and state is paramount.
You WOULD be surprised to note how many Democrats are far better Christians than you could ever hope to be. Democrats do try to help other people as Christ did as Republicans endeavor to remove such help with every fiber of their being. And force others to conscript to their caveman views.
Read you found an excuse to cover your egotistical ass because you are INCAPABLE of refuting facts. Too painful for a Leftist to FACE REALITY, I completely understand. Run home now, sonny…
Mention of inflation as conspiracy is nothing but Soviet era govt restatement of truth.
Such a response proves your moniker as propaganda. One has to admire your commitment…much shared with embracing “transitory?”
Economy is still getting over the mismanaged travesty and toll on the nation from the Trump presidency. Contrary to what the conservative morons on this page think. BTW I am no “libturd” so don’t let your simple-minded peabrains go there.
Definitely a “libturd”!
I guess you let your simple-minded peabrain go there as I expected of the boorish buffoons here. I am what I said I am (a Centrist) unlike dopes like you who can never be truly honest. You’re always angling for the next lie.
⬆️ WARNING!! Extreme Libturd alert! Gaslit throws around fancy phrases but never actually is able to refute any of the logical peoples’ facts. Rhetoric is straight from the Soviet playbook. I wonder how much he either gets paid for this gibberish or how much he is completely reliant on gov’t. largesse for his rich lifestyle, which he so richly doesn’t deserve or earn.
Hah! You see Russkies under every rock, hoping to form an autocratic alliance no doubt. Look at your own BS consisting of constant lies and misinformation. Big words too much for you? Well I don’t expect much from Republiturds and their 3rd grade education. It explains a lot.
I don’t see anyone here making any case for anything that’s remotely credible. It’s amusing to see them try. No point in refuting the misinformed because they’re not likely to change their minds anyway asswipe. Your words betray the fact you know nothing making wild accusations and not knowing how to have an intelligent discussion – which isn’t what you’re after anyway. Typical worthless buffoon.
Agreed.
Easy to see through the Gaslit Democrap of talking points and opinions INCAPABLE of facts, instead expert in USELESS insults and rants rife with hypocrisy.
We also see through the Gaslit Democrap VOTING FRAUD trolling posts/people leaning right. Take NOTICE mostly the same number of UP-VOTES for Gaslit response posts (4-5 stars) and the same number of DOWN-VOTES (1-2 stars) in the original post during Gaslit response.
Clearly mentally disturbed wasting life creating FALSE OUTCOMES that only a sicko would appreciate…