Three Data Points to Summarize the Week!
The Producer Price index which leads consumer prices (CPI) is below the 2% target.
Cash App sees 3rd largest download day.
Adobe sees strong growth ahead. What that may suggest.
(PPI) PRODUCER PRICE INDEX FELL. PPI LEADS CONSUMER PRICE INDEX (CPI). PPI IS NOW TRACKING 0% TO 1.8% INFLATION AT THE PRODUCER LEVEL.
Earlier this week, we tweeted about the Producer Price Index (PPI) that showed a month-over-month decline and a year-over-year reduction of 50%. This reading has dropped in two out of the last three months, and it is currently below the 2% inflation target. This data point is crucial because it influences consumer prices and can be considered a leading indicator for future inflation. Furthermore, it offers the Federal Reserve (FED) some leeway to avoid sounding too aggressive at the next FOMC meeting, as they can cite this deflationary trend as evidence of upcoming price reductions.
CASH APP SEES 3RD LARGEST DOWNLOAD DAY IN A YEAR FOLLOWING ITS OFFER FOR DRAKE CONCERT PRE-SALE TICKETS.
Block (formerly Square) has a big win to celebrate, as its subsidiary Cash App, which accounts for almost 50% of the company's gross profit, recently offered pre-sale tickets for a Drake concert. To participate, concert-goers had to download Cash App and get a Cash Card, which functions as their debit card. We've been monitoring the app's downloads and user engagement to gauge the success of the promotion. As a result, Cash App climbed to the fifth spot in the overall app store rankings (excluding NCAA basketball apps, it reached the third position), and it saw the third-highest daily download count in a year on the day before the concert.
ADOBE, THE LARGEST SOFTWARE PROVIDER FOR CREATORS AND MARKETERS INCREASED 2023 GUIDANCE DESPITE WORLD SHAKEUPS...
"Adobe drove record Q1 revenue and we are raising our annual targets based on the tremendous market opportunity and continued confidence in our execution,”
-Adobe CEO - March 15th
Adobe is a company that provides software for creative and marketing professionals. They reported after the Silicon Valley Bank stress and Credit Suisse fears. The company is known to guide conservatively. The significance of this lies in the fact that Adobe's strength implies a resurgence in spending by marketing professionals, indicating positive signs of growth in the marketing industry and economy.
Disclaimer: Not a recommendation to purchase or sell any securities mentioned. This is for educational purposes only.