Ultimate Pair Trade, Buy Eli Lilly - Sell McDonald’s — Nick Santiago 9-13-23 #524

Source:
https://www.spreaker.com/user/appeal2/nick-524

1.The CPI numbers were released today. The August consumer price index rose 0.6% for the month, and was up 3.7% from a year ago. This number was expected so it was not a big surprise to the markets. Core CPI, which excludes volatile food and energy, increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%.
The bottom line, the market expects the Fed to keep rates unchanged at the next meeting which is on September 20th.

2. Tomorrow we get the PPI number at 8:30am EST.

3. The ultimate pair trade, Buy Eli Lilly and sell McDonald’s.

4. Today, all of the big tech CEOs are meeting in Washington DC. CEO's such as Elon Musk, Mark Zuckerburg, Sundai Pachai and many others are going to talk to the senators about AI. I'm not sure what is going to come out of this.

5. Gold is flat today, but it did pull down a little yesterday. As you know, gold often dips during options expiration so we should not rule that out. There is still some daily chart support around the $1913 level.

6. Bitcoin is trading up today by 0.25%. Bitcoin had a good pop yesterday, but I'm not sure it is anything more than some options expiration game playing this week.

Visit Nick at: https://IntheMoneyStocks.com
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