It’s been another volatile session where the market chips away to get higher, and then took off on the latest petroleum news…for a moment.  Crude inventories declined, which was a pleasant surprise, but gasoline continues to build.

Here’s an example:

We think wage growth is increasing but see its “tentative” so we are “hopeful.”  I bet they’re hopeful, as Fed policies haven’t worked, and the rate hike was real late or premature depending on how you look at it.