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However, VIX was back below 12 by early Wednesday. Additionally, we saw some weakness in the Nasdaq yesterday, especially among semi-conductors, but Nasdaq has had an incredible run and was slightly higher in pre-market trading. The U.S. Consumer Price Index (CPI) for December rose 0.3%, in line with expectations, the government reported early Wednesday. More More Housing Numbers Up Next Thursday brings December housing starts, which are expected to rebound slightly following a rather weak November report. Wall Street analysts expect improvement in the December number, to around 1.2 million from below 1.1 million in November, Briefing.com said. The three-month average is around 1.16 million, which remains near one-decade highs. The November downturn was paced by a 45% decline in multi-unit starts, yet it also featured a 4.1% decline in single-family starts to a seasonally adjusted annual rate of 828,000. Fed Just Two Weeks Away, So Watch Volatility Todays CPI report puts the focus once again on inflation, which the Fed watches closely. The futures market continues to point toward the Feds early February meeting being a quiet one, with just a 4% chance of a hike at that time, according to the CME.The March meeting brings about a 21% chance, and that rises to 34% in May. Health Care M&A Ahead?
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