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To help contextualize this morning's market moves around the world, below are insights and analysis from our research and Hedgeye CEO Keith McCullough's Twitter feed.
S&P 500 Hits All Time Highs!
The chart below breaks down yesterday's S&P 500 all-time highs by sector. As you can see, the Financials (XLF) led the pack (+1% on the day) and Utilities (XLU) sucked wind (-1.7%).
Small Business Optimism Hits 34-Year Highs
The NFIB's Small Business Optimism Index rose to the highest level since 1987.
PPI: Fastest Pace of Growth in 5 Years
Is this the peak? Read today's Early Look (our morning market newsletter) and find out what we think.
A Brief Reminder on Rate Hike Day
It's widely expected the Federal Reserve will raise interest rates today. Market participants' rate hike expectations are literally at 100%. Below is some historical context on rate hike day...
BEFORE YOU GO...
With the U.S. stock market at all-time highs, it's worth reflecting on what sent stocks to such stratospheric levels. Here you go.
There are a lot of myths of modern macroeconomics that card-carrying PhDs hold dear. Here's one as identified by former St. Louis Fed Vice President Dr. Daniel Thornton. A must-read...
Want to better understand the big picture macro market developments? Get a free month of our newly-launched weekly newsletter Market Edges.
