US equities open on a positive note, although the gains are somewhat shaky. S/t momentum is on the very high side, and the market is due a cooling wave. WTIC printed $82.35. USD is -0.4% at 95.20.
sp’60min
VIX’60min
Summary
Headline inflation y/y 7.0% vs 6.8% prior
Ex food/energy y/y 5.5% vs 4.9% prior
So… inflation is still climbing, the rate itself is certainly not accelerating. I see little reason we can’t expect higher levels into the spring, not least if the sheep/serfs pressure their employers to increase wages.
Yours truly is resolutely not hitting buttons. Other than a quintet of gold/silver miners, I’ve literally nothing left to sell. I’ll wait, and increasingly, it looks like ‘all this’ will drag across the long weekend, and into next Tuesday.
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notable stock: LAC
I do think Lithium is going to be one of the giant themes into the next decade. Unless I see otherwise, this appears the best stock. Due a retrace (at least 3-4%) of yesterday’s surprisingly strong jump.
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notable energy: OXY
Reflective of the sector… helped with oil $82s. Cyclically wildly high.
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notable steel: X
Steel stocks higher with the main market.
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notable miner: FCX
Freeport powering upward with copper printing $4.58. The latter does appear inevitably set to break >psy’ $5.00, with the $7s looking realistic this summer. I’d add the computer’s PF on copper is a wild $9.50