Wall Street – Stocks surged on a softer than expected set of CPI results. The S&P 500 surged more than 2% for the week so far with materials leading the market.
NASDAQ – Tech stocks performed strongly with the NASDAQ climbing about 2% for the week with names such as Apple, Meta and Alphabet all continuing their strong month.
Energy – Energy sector continues to rise increasing by almost 4% for the week.
Rates – US CPI showed headline inflation reached 8.5% last month which is below the forecasted 8.7% and also falling below the previous released results of 9.1%
Bonds – Bond yields are continuing to rise despite the better than expected CPI results which indicates investors are expecting the Fed to continue to increase interest rates.
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