Loading ...PM’s pulling back a bit against the rising dollar and rates. Shares down a little premarket. If it stays this way, then I’m not sure what the pm share rally was all about yesterday. Certainly, it came out of nowhere.
The SM is higher this am per the norm, tech roaring ahead as always. Saw a headline the Shiller PE index was at 40 PE. I seem to remember back in the day, the SM was overbought when it went to 15-17 PE. Don’t hold me to that though, my memory is shaky in my advanced age. 🙂
Oil back above $70 after a good day yesterday. Bitcoin up near 1%, above $96K. 10 yr. @ 4.25% up a couple more bips after bouncing off 4.17% yesterday.
There’s a bit of eco data today, with the ADP payrolls number and ISM Services. May move things around. There was some dovish Fed speak yesterday, maybe that had something to do with the pm strength.
Still early, we’ll see how the ADP numbers play out.