Giddy Heights.
The stock market was starting to run out of ammunition when it came to any meaningful remaining economic data releases this year with just PCE inflation and GDP to come and any Santa Claus rally would have to be built mainly on vibes. It would also be subject to geopolitical winds which don’t look great (Venezuela, Ukraine, Middle East) as well as the volatility that can often result from thin holiday markets and lightly-populated trading desks.
The three-and-a-half day week began positively on Monday following the previous week’s surprise drop in inflation and lukewarm US labor market data…
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