Inflation Resurgence to Big Tech

Globe and Mail

14-02-2025

Inflation is making waves, and Big Tech is feeling the heat. Bill Baruch breaks it all down on CNBC—don't miss his market insights!
E-mini S&P (March) / E-mini NQ (March)
S&P, yesterday's close: Settled at 6135.25, up 62.50
NQ, yesterday's close: Settled at 22,113.25, up 308.50
E-mini S&P and E-mini NQ futures have shaken off hot inflation data and looming tariffs to close at three-week and two-month highs, respectively. Ironically, the E-mini NQ is the first index to clear the Thursday January 23 rd settlement, when DeepSeek began weighing on price action Friday and before the fallout that Sunday night. I joined the CNBC Halftime Report yesterday and discussed a unique balance between fiscal and monetary policy acting as a tailwind, which can be seen in the video above.
Retail Sales this morning came in below expectations with Core -0.4% m/m versus +0.3% expected and headline -0.9% m/m versus -0.2% expected. Although Import Prices came in lower than expected at +0.3% m/m versus +0.4% expected, Export Prices surged by 1.3% versus +0.3%.
The E-mini NQ closed above significant resistance at the 21,911-21,968 level, which has now been adjusted and will act as support. However, the E-mini S&P still has not decisively cleared its rare major four-star level at 6133.25-6135.25. As today unfolds, we will look for price action to respond to first key support and overall be constructively buoyed by our pivot and point of balance upon a pullback, coming in at…
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