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.
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.