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?
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