Stock Market Update

The stock market is on track for a modestly lower opening following this morning's batch of economic data. 

Total CPI increased 0.3% month-over-month in February (Briefing.com consensus 0.3%) and was up 2.4% year-over-year, versus 2.4% for the 12 months ending in January. Core CPI, which excludes food and energy, increased 0.2% month-over-month (Briefing.com consensus 0.2%) and was up 2.5% year-over-year, versus 2.5% for the 12 months ending in January.

The key takeaway from the report is that it matched expectations at the headline and core levels, which is mildly positive since the recent surge in energy prices will increase the market's expectations for a hotter reading in March.