US equity indexes closed very significantly higher, SPX +87pts (2.1%) at 4210. Nasdaq comp' +2.9%. Dow +1.6%. The Transports settled +3.1%. R2K +2.9%.
SPX - daily
VIX - daily
Summary
US equities opened very significantly higher, on the 'cooler than expected' CPI data. Naturally, the mainstream cheerleaders were delighted with themselves. Yet the reality is almost every one of them has been calling inflation as being near/peaked for over a year.
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The afternoon saw considerable chop, if still leaning to the upward side.
Volatility was ground lower, the VIX settling -9.3% to 19.74, the first close under the key 20 threshold since April 20th.
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| Cruising into the sunset |
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| 30c/86f |
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| 97.6% |
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Extra charts in AH (usually around 5pm EST) @
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Goodnight
from London
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