#美国核心物价涨幅不及市场预估 The third week of the year, is the stock market going up or down? The key depends on this number

The US core CPI unexpectedly declined, and its impact on the market is more complex than you think.

Softening inflation data is often interpreted as a positive signal, but market reactions are usually neither purely bullish nor simply bearish. Instead, they gradually digest the news through repeated testing. Simply put: the stock market may be "growing bigger," rather than rising straight up.

In the past few weeks, we've seen this rhythm—indexes hovering, increased volatility, and clear differentiation among individual stocks. CPI below expectations theoretically favors risk assets, but it also depends on how the Federal Reserve signals its next move. If they hint that the rate cut cycle might be delayed, the previous rebound could turn out to be "false growth."

In these first few weeks of the year, the focus isn't on chasing highs but on understanding what the market is digesting—whether it's optimism about a soft landing for the economy or concerns about a policy shift.