Markets were hoping for 'juicier' CPI print: Strategist

Major indexes (^DJI, ^IXIC, ^GSPC) are facing downward pressure following the release of the August Consumer Price Index (CPI), which came in line with economist expectations. Siebert Chief Investment Officer Mark Malek joins Catalysts to share his market outlook in light of this report.
Malek suggests that the market's negative reaction indicates investors were "secretly expecting or possibly even hoping for" something else from the data. He notes that the as-expected CPI print has dampened hopes for a potential 50 basis point rate cut at the Federal Reserve's upcoming FOMC meeting next week.
Looking ahead, Malek notes the presidential election will be the next big catalyst for markets— though he cautions "there is still a big layer of unknown." Additionally, he emphasizes the importance of Senate races, pointing out that they will play a huge role in shaping tax policy under the next president.
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