By Chris Becker
The S&P500 headed to another record high last night with buyers all through the session as the CPI and initial jobless claims prints came in bang on expectations:
The PMI deluge overnight began in Europe and although all came in above expansion, they were well under expected readings showing continued signs of weakness in the currency union. This pattern continued in the US but then the Philly Fed print was way above expectations (nearly double) and is being written off as an anomaly by most.