Market seem to be taking a breather after an eventful week as all three major US indices appear to be in mild red this morning (PST). Economic data this morning showed that University of Michigan's consumer sentiment showed fall in 1Y inflation expectations. The dip was more than expected. Services activity contracted in New York area but the rate of contraction slowed. Some Fed officials commented that they were comfortable raising interest rate if inflation doesn't get tamed. The general expectations about the economy look generally good at the moment.
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