We received some higher than expected inflation data this morning and the markets are being punished for it. The likelihood of a June rate cut are pretty much out the window at this point. The economy is still strong, even though everything costs much more than it did 4 years ago. All of the goverment spending has caused the hot inflation numbers and it continues to rise. Even though we're not at the double digit gains that took place in 2022 and 2023, those inflation gains are still here. Don't be fooled by the low 3.5% figure because prices inflated by more than 10% over a year ago and if you add them together, we're nearly 15% above how much things cost over 2 years ago. Studies have shown that shoppers are paying more than 30% above what they used to at the grocery store from over a year ago.



Before the data today, our traders found a great entry point yesterday and were able to capitalize on the market's flat trend. Our position expired at yesterday's closing bell for a gain of 3.1%! Enjoy the rest of the week!