It's been an interesting session, and so far, an impressive session. The market is trading in a narrow range. I'm very impressed that when it slipped into the red column, it turned around quickly.
A few days ago, that would have triggered waves of program trading that would have swept up a few humans as well.
Technology is the strong sector, but the list of best performing individuals names represents an eclectic array, which reflects the fact everything was oversold on near-term basis,
Interestingly, even though the Energy sector is lower, crude oil is moving higher as inventory decreased 4.5 million barrels to the lowest point since mid-2018 and below the five-year average.
It's nuts to say out loud, but judging from the stock and treasury market, it's easy to wonder if the inflation scare is being overloaded by the market.
|Yes, it is "nuts" to say out loud.....even "wackier" to think it. Look at the reality...inflation high and rising. Possibly out of control without draconian fix. Goldman calling for 4, yes, 4 hikes. Even if they are way off that means 2 or more. Wait till we see the PPI tomorrow! The stock and bond markets are in denial with their heads so far up their --- they can't see the forest for the trees.|
Charles Haselberger on 1/12/2022 3:22:37 PM
|I work as a machinist making valves for Audi, Ferrari, corvette and others. A few people on each shift are out with cold symptoms maybe covid . Have to stay out a certain number of days and can"t come back without a negative test. Really putting a strain on production. No one to train new employees. I'm sure other manufactuers are in the same boat. Not good for supply chain or the economy.|
James Duncan Grant on 1/13/2022 5:13:59 AM
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