Simon discusses how the sands are shifting, and stocks are struggling to price what the economic backdrop might look like on the other side of the "sugar rush," the initial reopening surge. These evolving perceptions are fueling an uptick in overall market volatility as well as volatility underneath the surface between sectors. He also discusses how difficult it is to forecast inflation and to correlate earnings growth with stock market returns. He highlights the latest from Danaher, bank names, and the outlook for European stocks.