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📈 SPX | 4,364 (+13, +0.3%)
📉 DJIA | 34,378 (-1, 0.0%)
📈 CCMP | 14,572 (+106, +0.7%)
🎈 US CPI figures for September again came in higher than forecast (+5.4%), sending markets upside down as Treasury yields plunged while growth stocks gained for a change. Up next, initial jobless claims and PPI data is due tonight.
⚡️ Energy, Financials, and Real Estate are continuing to outperform, coming as the market has now endured around 6 months of high inflation figures. Just in the past week, Goldman Sachs’ Group President and BlackRock’s CEO have said that the current bout of inflation is “definitely not transitory”.
🚂 Shipping delays, rolling blackouts, agriculture hit by natural disasters, and fuel and commodity shortages are raising worries of further spikes in inflation, with bonds suggesting that inflation expectations are again approaching multi-month highs.
