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7/1/21 - Choppy day ends in the green
After a very choppy start to the day, all 3 indexes close higher with the S&P setting a new record high for the 6th straight day.
Consumer Price Index is up 3.5% from 1/21-5/21, which is a pretty substantial increase but that number drops to 2.4% if you take the food and energy sectors out of the equation.
Employees seem to be content with being unemployed short term while they either switch career fields or negotiate for better benefits (think higher pay, remote work arrangements), which could spook investors as a sign of increased unemployment.
However despite what appears to be a quick recovery so far YTD, investors do not seem to be worried about the Fed moving up their timeline for raising interest rates. If that is the case we could continue to see some serious buying heading into the summer that continues to push indexes higher.
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By Derek HutsonAfter a very choppy start to the day, all 3 indexes close higher with the S&P setting a new record high for the 6th straight day.
Consumer Price Index is up 3.5% from 1/21-5/21, which is a pretty substantial increase but that number drops to 2.4% if you take the food and energy sectors out of the equation.
Employees seem to be content with being unemployed short term while they either switch career fields or negotiate for better benefits (think higher pay, remote work arrangements), which could spook investors as a sign of increased unemployment.
However despite what appears to be a quick recovery so far YTD, investors do not seem to be worried about the Fed moving up their timeline for raising interest rates. If that is the case we could continue to see some serious buying heading into the summer that continues to push indexes higher.