Charles Payne: The Last Four Biggest Inflation Reads Came in Better Than Expected, Meaning Less Inflationary

RUSH EXCERPT:
PAYNE: "I think start with inflation. Certainly the last fourth biggest inflation reads, CPI, pce came in better than expected. Meaning less inflationary. That puts less pressure on the Federal Reserve to hike rates. That’s a good thing, particularly as we have a new fed chair that wants to change the way the Federal Reserve interprets inflation, monitors inflation and fights inflation. So he needs to buy some time there and I think he’s got that. The markets like that a lot. They don’t like higher rates. That was the good news. The retail sales you point to also follow today by consumer sentiment, which came in below expectations. You know, we’ve got a consumer that is hanging in there. We understand the economy and higher income households are doing so much shopping, it’s hard to really discern the true — it’s hard to say there’s such a thing as the consumer. Having said that, it’s holding up. It’s not collapsing. It’s holding up. You can feel more hesitancy. That might be persistent that the Iran war, we’ve seen oil go down quickly but bounce back up. That has something to do with that. The stock market, bret, has been a beast. An absolute beast. The numbers like you showed coming in, they belie what is really happening. These are indices, 500 stocks in them or whatever it is. The names that are moving this market, the fourth industrial revolution is just absolutely mind boggling. Spacex pulled back after its ipo and made a 45% run. Nvidia, which is the central name in all of this stuff is on fire again. I’m talking about monster moves. There’s a companies called sandisk. I bet a lot of viewers think about it. Maybe at a cvs you look in a discounts Ben. You can buy D-ram chips. Well, it’s hot again. It’s up 3,000% in the last year. We have incredible things going on. There’s some weak pockets."