US CPI data was out a little earlier this afternoon, and to be honest, it surprised most people in the market, coming in below expectations. True, inflation in the US is still rising, but it’s doing so at a slower pace .
Eben Core Inflation, the measure that I tend to watch, slowed to just 3.0% from prior prints at 3.10% see the chart below.

That news was taken as a positive catalyst for US equities but that positivity may be short lived, following the news that there is unlikley to be a release next month.

Macro data only works as an indicator when you have context in the form of time series data, which allows you to spot trends and outliers . The longer the government shutdown perists in the US the murkier the economic outlook beomes.