Here’s What Today’s CPI Numbers Mean To Your Pocketbook
The CPI was up .1% in November, the smallest gain in four months and up 2.2%
from a year ago, while industrial production was up .1% in November, the first
gain in four months. Housing prices were up, but January lumber closed at 224,
less than 3.00 from contract lows.
The situation is so bad in Venezuela that the head of the army said he is
prepared to use full force to stop the three-week old labor strike. March crude
closed at 30.10.
The 2003-04 Brazilian coffee crop is expected to be one third to one-half
lower than this year; on Thursday, Brazil will release their estimate. March
coffee closed at 2080.
Eating less meat? McDonald’s reported their first loss in history; February
cattle fell to 78.85.
February Gold was up only slightly, to 338, after being on a tear of late.
Short covering ahead of the holiday season sent March Copper up slightly, to
.7320.