Wednesday’s Events: Bernanke Part II, U.S. CPI, DOE Oil, Cnd Mfg Shipments
Wednesday, July 16th, 2008Another action-packed day follows Tuesday’s
excitement as Fed Chairman Ben Bernanke delivers the second of his two-
day annual testimony, this time to the House of Representatives. In terms
of data, markets will receive Canadian manufacturing shipments along with
U.S. CPI and industrial production figures followed by the all important
weekly oil inventories for the week ending July 11.
U.S. June Core CPI Up 0.3% as Total Inflation Surges 1.1%
Wednesday, July 16th, 2008The seasonally adjusted U.S. Consumer Price Index
rose more than expected on both fronts, as the core rate ticked up 0.3%
(0.323%) in June, contributing to a 2.4% year-over-year change, and total
inflation rose 1.1% (1.056%) in the month and 5.0% on the year, according
to data released by the U.S. Labor Department on Wednesday.
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