According to Interactive Brokers chief strategist Steve Sosnick, the inflation figures were not good, but equity futures showed little reaction, suggesting markets were focused on other factors.
Interactive Brokers chief strategist Steve Sosnick said the latest Consumer Price Index, or CPI (U.S. inflation gauge), figures were not good, but equity futures did not move meaningfully in response. His remarks suggest stock markets were looking beyond the inflation data rather than treating it as the main driver of near-term price action. In market terms, a muted futures response can indicate investors had already priced in the release or were prioritizing other macroeconomic developments.