Macro Morning (US inflation flat)

By Chris Becker

The US NASDAQ made a new record high, helped along by a strong initial jobless claim print and rumours of continued Fed support even as the US economy recovers. European stocks lifted, regardless of the “bad” news emanating from Greece, as talks stalled once more and the push to push the beleagured nation out of the EU hastens. Commodities were bid, especially gold as the USD continues to weaken as core inflation prints flat as a tack.

Recapping Asia, where the Shanghai Composite had another extremely volatile day, losing nearly 4% or 200 points to fall to 4784, well below recent support at 5000 and possibly on its way to the next level of support/former resistance at 4500 points. This increasing daily volatility is a sign of things to come as this bubble reaches its final stages.