Initial observations...
Market may be looking past supply chain and inflation issues. The ten-year TIPS (Treasury Inflation-Protected Security) is in freefall.
There is lots of economic data, with the brightest spot coming from the Chicago PMI, which came in stronger than expected.
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The business barometer is climbing to its highest level since July. Perhaps, the most encouraging note is employment has increased for 4 straight months.
To see the chart, click here.
I am very impressed with this session, which could have been a disaster, considering the hits taken by two behemoths, Apple (AAPL) and Amazon (AMZN), which are both well off the lows.
Have a great weekend. Stay safe.
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