The CPI report, interest rate hikes, house prices and rents, wage growth, job openings, unemployment rate, international conflicts, and trade wars all play a significant role in guiding the market's microenvironment.
The first Fed rate cut may occur later than expected. However, Lending institutions may benefit longer with higher interest rates.
“In March, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 3.5 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in March (SA); up 3.8 percent over the year (NSA).”
https://www.bls.gov/news.release/cpi.nr0.htm
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