RUSH TRANSCRIPT Maria great ░░░░░░░░ on tax day let ░░░░░░░░ get to Cheryl Cheryl ░░░░░░░░ let s start with ░░░░░░░░ over month headline number ░░░░░░░░ ppi estimate jump 3 ░░░░░░░░ if with a jfrp ░░░░░░░░ 2 lighter than expected ░░░░░░░░ over year expecting jfrp ░░░░░░░░ 2 came in jump ░░░░░░░░ that is 2 1 ░░░░░░░░ me 2 1 and ░░░░░░░░ excuse me correct that ░░░░░░░░ 2 1 expectation was ░░░░░░░░ 2 this is smich ░░░░░░░░ than read from last ░░░░░░░░ 1 6 I m ░░░░░░░░ the headline year over ░░░░░░░░ 2 1 apologies now ░░░░░░░░ the core month over ░░░░░░░░ we got in line ░░░░░░░░ estimates jumper 2 look ░░░░░░░░ core year over year ░░░░░░░░ in that came in ░░░░░░░░ 2 4 hotter than ░░░░░░░░ again let me clear ░░░░░░░░ for one mistake 2 ░░░░░░░░ lighter than expected month ░░░░░░░░ month hl number came ░░░░░░░░ 1 year over year ░░░░░░░░ 2 2 stronger than ░░░░░░░░ month I want to ░░░░░░░░ clear jumping on headline ░░░░░░░░ month to month the ░░░░░░░░ ppi month to month ░░░░░░░░ line 2 2 4 ░░░░░░░░ year over year core ░░░░░░░░ is hotter than expected ░░░░░░░░ that is is again ░░░░░░░░ to be clear hotter ░░░░░░░░ last month that so ░░░░░░░░ ppi number in line ░░░░░░░░ CPI yesterday Let me ░░░░░░░░ through give you really ░░░░░░░░ what government said kind ░░░░░░░░ pushed numbers hotter I ░░░░░░░░ a feeling your guest ░░░░░░░░ the energy story looks ░░░░░░░░ again there was a ░░░░░░░░ rise in services we ░░░░░░░░ seen services inflation still ░░░░░░░░ apply to this report ░░░░░░░░ CPI again really is ░░░░░░░░ that the energy story ░░░░░░░░ warehousing advantages in those ░░░░░░░░ as well as again ░░░░░░░░ back to major factor ░░░░░░░░ price the energy story ░░░░░░░░ services you also saw ░░░░░░░░ here talking about investment ░░░░░░░░ securities brokerage related service ░░░░░░░░ pieces of inflation report ░░░░░░░░ talked about a lot ░░░░░░░░ but again we did ░░░░░░░░ a little bit of ░░░░░░░░ slight decrease on gasoline ░░░░░░░░ again overall this is ░░░░░░░░ services story from what ░░░░░░░░ am reading going to ░░░░░░░░ into it toss back ░░░░░░░░ you a hotter than ░░░░░░░░ report again services story ░░░░░░░░ that good story but ░░░░░░░░ me dig in numbers ░░░░░░░░ there is a few ░░░░░░░░ again I mentioned services ░░░░░░░░ of story a little ░░░░░░░░ of a decrease in ░░░░░░░░ fuel in in report ░░░░░░░░ slight decrease in gasoline ░░░░░░░░ mark made perfect point ░░░░░░░░ that that that is ░░░░░░░░ to come back for ░░░░░░░░ April report no way ░░░░░░░░ price of oil jump ░░░░░░░░ well fed funds futures ░░░░░░░░ disagree with market reaction ░░░░░░░░ I don t think ░░░░░░░░ think a knee jerk ░░░░░░░░ on futures to the ░░░░░░░░ side especially NASDAQ because ░░░░░░░░ if you look at ░░░░░░░░ funds futures right now ░░░░░░░░ like September at best ░░░░░░░░ bit of increase for ░░░░░░░░ betting on July we ░░░░░░░░ this is pie in ░░░░░░░░ sky kind of that ░░░░░░░░ what I think you ░░░░░░░░ seeing in futures market ░░░░░░░░ now I think this ░░░░░░░░ going to wear off ░░░░░░░░ trading day we may ░░░░░░░░ a chance to react ░░░░░░░░ after what we saw ░░░░░░░░ the other thing I ░░░░░░░░ say here are is ░░░░░░░░ you know the story ░░░░░░░░ president Biden you know ░░░░░░░░ inflation picture right now ░░░░░░░░ are at 19 since ░░░░░░░░ took office CPI right ░░░░░░░░ was recent The Wall ░░░░░░░░ Journal poll seven swing ░░░░░░░░ voters there 74 voters ░░░░░░░░ seven swing states said ░░░░░░░░ was going the wrongs ░░░░░░░░ So we can the ░░░░░░░░ react like they want ░░░░░░░░ but I think there ░░░░░░░░ two sides to this ░░░░░░░░