Today marks the 737th turnaround Tuesday since 1990. Stocks are bouncing nicely, getting an extra boost from the ISM Service numbers, which came in much better-than-expected. It’s a reminder that the underlying economy remains resilient.
By the same token, we are also reminded of pricing pressure and the workers’ strike continues to slow full recovery.
In fact, among those items mentioned in short supply includes truck drivers.
Commodities in Short Supply
Adhesives; Blood Collection Tubes; Chicken; Computer Equipment (2); Construction Contractors; Construction Subcontractors (2); COVID-19 Testing Kits; Drivers; Electrical Components; Fiber-Optic Cable (3); Generators; Heating, Ventilation and Air Conditioning (HVAC) Equipment; Labor (2); Labor — Temporary (9); Laptops and Desktop Computers (2); Media Supplies; Microchips (2); Needles and Syringes (2); Ocean Freight Containers; Pipette (7); Polypropylene; Resin-Based Products (2); Steel Products; Surgical Gloves; and Truck Drivers.
Note: The number of consecutive months the commodity is listed is indicated after each item.
I think you have to hold your positions and prepare for a strong year-end rally.
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