A new batch of critical macro U.S. economic data has landed. Let’s get the read on it now from Our Chief Equity Strategist and Economist, John Blank.

1. What do you see the Fed doing on tightening in light of the favorable CPI numbers?

2. Does the Producer Price data suggest inflation is cooling enough to give the Fed a reason to ease on rate hikes?

3. How do you feel about the latest employment data out of the labor department?

4. Do you see key price measures in a steady decline going forward?

5. The stock market seemed to react favorably to this data. Have traders just accepted that rates will be higher longer?

6. You commented recently that there is a giant discrepancy between leading and coincident economic indicators, at the moment. We now have a signal (the leading to coincident indicator ratio) that typically calls a bottom in recessions, and a major turn up in stocks, without a U.S. recession in hand. How reliable is this?

7. Against this backdrop, the Q2 earnings season has begun. The big banks kicked things off. Even though they passes the Fed’s health check, what do you see as the prevailing state of the U.S. banking system?

8. Will shifts in interest rates spark turbulence in the financial sector?

9. Debt laden firms around the world are having trouble though. Do you see that impacting the U.S. multinationals?

10. Let’s look at some large cap Japanese stocks, namely Panasonic , Nissan Motor (NSANY Quick QuoteNSANY - Free Report) and Komatsu (KMTUY Quick QuoteKMTUY - Free Report)

Our Chief Equity Strategist & Economist, John Blank, discussing recent macro U.S. economic data. With John, I’m Terry Ruffolo.