Looks like markets had quite a ride today. Dow seemed to have risen substantially but gave up most of the gains into the close while remaining major indices closed in red. A rally right now is hard to sustain because this week is packed with economic data in the second half viz., FOMC meeting minutes, CPI data, start of Banks' earnings etc. CPI data (due Thursday) appears to be the most important one as it will tell us about the key inflation metric. It seems logical to stay dormant in the markets at least until that data is released.
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