Let’s toss more fuel on the fire with a red hot Consumer Price Index number.
Forecasters are looking for 7.8% year over year–of course we know it will trend higher in the months ahead with energy prices as high as they are right now.
I’m not so certain that anyone will care much about this reading unless it is way high–say 9% in which case we might get a little extra shove higher in interest rates.
Trying to forecast stock market movements is a fools errand so it goes unmentioned.
As always I watch and wait.