S&P 500 Hits a Record as Meme Stocks Slide, No Dollar Breaks Until Fed?
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S&P 500, AMC, GME, CPI, Dollar, USDCAD and GBPUSD Talking Points:
• Despite a larger-than-expected surge in US consumer inflation (CPI) the market didn’t seem to extrapolate – or fear – Fed tightening implications
• The S&P 500 notched a record high in the technical sense but risk appetite was absent with even AMC and GME sliding; while the US Dollar failed to break its extreme ranges
• Market conditions are holding conditions in check with the FOMC on Wednesday the next big milestone, but I’ll keep an eye on a record tight GBPUSD range
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