Art Hogan, chief market strategist at B. Riley Financial, said the latest CPI
was mixed — broadly in line with expectations but skewed negative overall — and
is unlikely to change the Federal Reserve's policy trajectory at the next
meeting. Market consensus remains for a steady Fed; fed funds futures currently
price just one additional rate hike. After pronounced profit-taking in chip
names and the broader tech sector, those factors likely helped markets recover
some early-session losses.
