S&P 500 Rallies After PPI Despite Mixed Macro Signals
US stocks rose strongly on Thursday even though PPI data was less clearly supportive, while Wednesday's post-CPI gains had faded.
SPX
US equities showed a mixed response to this week's inflation data. The S&P 500 had a reason to rally after Wednesday's CPI report but did not hold its gains.
Thursday's PPI release was arguably less satisfactory from a macro standpoint, yet stocks rallied strongly. The post highlighted a breakout continuation setup in the S&P 500, with an hourly chart showing a deep pullback candle two hours after the breakout versus a much shallower pullback candle.
Source: FXStreet Forex News