US Macro Week: CPI, Trade Deficit, AI Concentration Risk
US CPI is expected to rise to 3.7% YoY on Wednesday; the trade deficit hit -$105B in August wiping out tariff gains; and JPMorgan data shows 42 AI stocks account for 60-80% of all S&P 500 earnings growth since January 2024.
What we know
@CoinbaseMarkets previewed the macro calendar: CPI expected at 3.7% on Wednesday, core at 2.5%; PPI and retail sales Thursday. An account on X flagged that the US trade deficit collapsed to -$105B in August, erasing tariff gains — a pattern last seen after Trump's 2024 election win. another account on X via Jesse_Livermore cited JPMorgan's Michael Cembalest: 42 AI stocks represent 60-80% of all S&P 500 earnings growth, price returns, and capital spending since January 2024, flagging severe concentration risk. US equity markets closed mixed: Nasdaq -0.43%, S&P 500 -0.07%, Dow +0.37%.
Sources
“US CPI expected to rise to 3.7% YoY on Wednesday, up from 3.4%; core inflation forecast at 2.5%”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.