PPI Gut Punch to 'Data Does Not Matter' To Investors, Bessent Wants 150 BPS Rate Cuts
1. PPI data exceeded expectations, rising to 0.9% vs. 0.2% consensus. 2. Treasury Secretary suggests interest rates could drop significantly. 3. Market reacts negatively post-PPI, with many stocks seeing outflows. 4. Powell's upcoming speech may provide crucial market direction. 5. Jobless claims slightly better than anticipated at 224K.