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Just Another Manic Monday

Monday, June 6, 2022 9:44

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This morning we are up.

There’s no news or no reason but we’re bouncing a bit this morning after being down 1.2% on the S&P 500 last week. CPI is our big data point for the week and we have to wait until Friday and it’s a quiet week for the Fed – so data is pretty much all we have with earnings winding down – and there’s not much of that either.

CPI was up 8.3% year/year as of April and is expected to calm down to 8.2% in May but I’m not so sure as oil and gasoline looked like this in May vs April:

That’s higher, right? Now, I’m no “Leading Economist” but when Oil and Gasoline are 5-10% higher during the month – it’s a little hard to imagine how general prices came down but maybe I’m too dumb to understand the nuances of economics?

Cotton and Orange Juice?

Corn and Rice?

…

Provided courtesy of Phil’s Stock World.

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Source: https://www.philstockworld.com/2022/06/06/just-another-manic-monday-58/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link

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