PPI Forecast -0.1% Prior -0.2%
Today traders will have the inflation number to look at and not much else. This week has seen consistent selling pressure in the equities. It appears that bargin hunters came in on yesterday's lows and did some buying but if the powers that be devine that Big Daddy is truly ready to call last call there may still be some downward pressure. With that in mind the Fed may be pleased with the orderly way the markets are pricing in the taper and be even more inclined to make the move earlier rather than later.
Yesterday saw the December S&P contract settle down -5.90 closing at 1774.90. Gold also went negative for the week losing -32.3 settling at 1224.9. It appears that both markets took yesterday's positive retail sales and business inventories numbers as furhter proof that Big Daddy is likely to begin tapering at next week's meeting.