The Michigan Sentiment report was a beast, coming in at 64.6 from 60.7 and against consensus of 59.7. One-year inflation expectations swooned to 4.0% from 4.4%, the lowest level since April 2021. This adds credence to notion for a soft landing.
Consumer Discretionary (XLY), Financials (XLF) and Health Care (XLV) are the lone outperformers this afternoon.
I'm loving the resolve of this market and if we rally into the close ahead of a three-day weekend it would speak volumes.
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