Market Brief: Warsh Won't Bless The Cool CPI, But Bitcoin And Gold Surge Anyway

Headline CPI rose 3.5% y/y (vs 3.8% expected), core came in at 2.6%, and monthly prices fell 0.4%, the largest monthly decline and the first negative monthly print since the 2020 pandemic period. All three major indexes closed higher on the CPI boost. The Nasdaq led at +0.90%, the S&P 500 added 0.38%, and the Dow finished barely positive at +0.02%. BTC rose over 3% and briefly approached $65,000, while ETH climbed to around $1,900 and has consistently outperformed BTC over the past two weeks. COMEX gold reversed sharply on the data, closing up 1.33% back above $4,058 after a V-shaped intraday turn.

Headline CPI rose 3.5% y/y (vs. 3.8% expected), core came in at 2.6%, and monthly prices fell 0.4%, the largest monthly decline and the first negative monthly print since the 2020 pandemic period.