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Stocks rallied yesterday, closing at session highs, ushered by investors excited by AI prospects in the wake of CEO comments from NVIDIA and Oracle – that’s all it took. Consumer Price Index / CPI hit its lowest point since February of 2021, but core inflation remains stubborn yet.

Stocks had a mixed close yesterday as traders played ping-pong with rate cut bets. Bank bosses threw cold water on hot-blooded bulls with warnings about growth and consumer health, even as regulators threw them a bone – making things even more confusing for investors.

Stocks rallied yesterday as investors picked through last week’s wreckage in search of bargains – some were found. Market volatility is the name of the game in this vacuum ahead of key inflation figures and next week’s FOMC; it is the cost of doing business.

Stocks slid on Friday because bad economic numbers are bad, no matter how you look at it. Employment numbers missed their mark, which is bad, but perhaps not bad enough for the concession prize of a -50 basis-point cut.

Stocks took a beating yesterday after a key manufacturing gauge disappointed… again. Chips were hit hard because they are an easy target – taking profits is not as hard as taking losses when the market is in turmoil.

Stocks traded higher on Friday with a last-minute surge sealing the deal as traders rebalanced portfolios on the final trading day of the month. Core PCE inflation pulled back further than expected, further clearing the path for rate cuts later this month.

Stocks had a mixed close yesterday because… well, because things are better than traders thought with the economy. With NVIDIA’s earnings out of the way, traders turned their focus to the OTHER important economic numbers in today’s PCE inflation number and next week’s monthly jobs data.