The major indices are continuing the ascent higher as the Nasdaq 100 and S&P 500 hit new highs.  All the S&P 500 sectors are higher this afternoon except for Health Care.  Energy is the top performing section.  Meanwhile, WTI is relatively flat at $77 after running up 6.3% last week. 

Breadth is decidedly positive, especially on the NYSE where advancers led decliners almost 4.5-1.  New highs are far outpacing new lows and the up volume is like a balloon.

Consumer inflation expectations for the year ahead came in at 3% (a 3-year low), while the 3-year expectation fell to 2.4% from 2.6%, and the 5-year inflation expectations came in unchanged at 2.5%.  

Key Components:

• Education (college) down 0.4% to 5.9%
• Food down 0.1% to 4.9%, low since March 2020
• Gas down 0.3% to 4.2%, low since December 2022
• Medical down 0.5% to 8.6%
• Rent down 0.9% to 6.4%, low since December 2020

Investors are now looking to the CPI report tomorrow, and many are expecting pricing pressures to have eased.